The company set up to convert about half of Bankstown airport to non-aviation commercial property following privatisation in 1998 has collapsed leaving a trail of confusion - KordaMentha has been appointed receiver and administrator to Bankstown Airport Corporation's development company "BAC Devco"

It's understood loans worth around $60m are owed to the Commonwealth Bank of Australia - Mirvac along with Leighton Holdings and WA-based super fund Westscheme all had equal shares in the company with rights to develop 104 hectares at the airport worth supposedly $300 million in development potential

A Lockheed C-130 Hercules with 8 persons on board was forced to make an emergency landing at the Richmond air base north-west of Sydney after an engine apparently caught fire

The police air wing and airport emergency vehicles attended the scene - "The plane landed completely safely - everyone is OK - they were all checked out by paramedics at the scene"