It is all over. The for sale sign will be put up on Ray Mackereth’s Q News shares.
The failed sex king can no longer remain a director of Q News Pty Limited and his shares sold. The mansion lease is now an asset for the trustee to dispense of as Ray Mackereth files for bankruptcy.
Mackereth will have to step down from the board of the public company Gay and Lesbian Travel Association (GALTA) if he hasn’t already.
The failed sex-club king who claims to be a champion of 120 charities recently successfully won a crowd-sourcing campaign for $20,000, claiming “QNews saved! Thank you people!”
As the sole director and shareholder of Q News, Mackereth can now add failed publisher and bankrupt to his name as the trustee can now sell his controlling interest in the fortnightly gay-male targeted pamphlet.
Between Klub Kruise and his own personal dealings, Mackereth amassed debts of over $270,000 that he did not pay, including to small businesses, employees, contractors banks and the Commonwealth and soon Q New’s liabilities will become clear.
Mackereth is at the unedifying end of years of corporate malfeasonance and being admonished by a Federal Judge in Larcombe v Mackereth  FCCA 2646 (1) and now the big man, the Controller is now in the hands of the Trustee Ray Mackereth’s Bankruptcy Petition.