How Macquarie’s $46m investment in an Aussie tech firm turned into $1

Plutora, a software and services company that received $46 million in funding from Macquarie Capital, has appointed administrators and plans to shut down its Australian operations following a dispute over its eligibility for research and development tax rebates.

Macquarie’s stake in the company was sold back to Plutora’s co-founder and chief executive, Dalibor Siroky, for just $1 as he seeks to keep the company going as a US-based entity, following a planned restructure.