Former Good Impressions director Peter Edwards has driven something else into the ground, crashing a light plane into a backyard in the Blue Mountains.
Edwards’ Sydney sheetfed printer collapsed in March 2012 with debts of $4.3m, but was allowed to keep trading in an attempt by creditors to recover their money.
He made only one payment before the deal was terminated in November 2012 and the creditors ended up with nothing when the company was liquidated.
Just like the crash of his company, Edwards walked away relatively unhurt from the downed plane along with two passengers, thanks to it being fitted with a parachute that can be deployed to slow the descent of the aircraft if it runs into trouble.
[Related: More credit and debt news]
Edwards had in fact been working for Cirrus, the US-based company that makes the planes designed with this safety feature, for the past two years – meaning he may have also been selling planes while he was supposed to be working to pay back Good Impressions creditors.
He was actually on a sales flight with two 58-year-old prospective buyers, one of whom was taken to hospital with neck and back pain, prompting the Daily Telegraph to call the accident ‘one serious sales pitch’.
“The parachute system worked as it is supposed to,” Edwards told Nine News.
“Cirrus is the only plane that’s got it. It’s meant to save lives and it worked.”
The Cirrus planes reportedly cost about triple that of similar aircraft due to the presence of the ballistic recovery system parachute, however aviation expert Dick Smith told the Telegraph they have the same fatality rates.
“It’s a lot more money and if a pilot spends extra money on a parachute, they might spend less money on training,” he says.
Most of the Cirrus planes in Australia are owned by businesses, which use the planes for trips of up to 1800km.
The accident is being investigated by the Australian Transport Safety Bureau and its report will be examined by the Civil Aviation Safety Authority.
Comment below to have your say on this story.
If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.
Sign up to the Sprinter newsletter