the meeting the proxies attached to Bolton's shares were exercised to against the resolutions, Bolton's company having earlier sold the proxy rights for $4.5 million to Thiess-John Holland Group and the contractor for the Airport Link project. Therefore, the special resolution fell short of the required 75% vote to pass and BrisConnections was allowed to continue operating under its current form. In May, 70% (278 million) of outstanding shares defaulted on the second $1 instalment payment. Some shareholders transferred their shares off market to false identities, such as Humphrey B. Bear, in order to avoid payment. An auction of shares in default failed to attract a bidder. In June, BrisConnections commenced legal action to recover the unpaid moneys. With Brisconnections launching legal claims against defaulting investors, controversial businessman Jim Byrnes postured as a champion of small investors. The controversy featured prominently in Brisbane newspapers: The name 'BrisConnections' was played upon as a 'con', the project and ensuing farce being dubbed by the media as 'BrisCon'. In October, BrisConnections notified ASX it would stop pursuing defaulting investors. By early December 2009, the share price of the second $1 installments had collapsed to 0.1c. With little other interest in the "toxic" stock at this time, the chief executive officer, Ray Wilson, paid $10 for 5,000 shares. Two other directors of BrisConnections also purchased share parcels of a similar size, helping to raise the share price to 0.5c by mid-December, however the share price had again collapsed to 0.1c by year's end. On 13 November 2012, BrisConnections was suspended from trading indefinitely, to pursue talks with lenders. On 19 February 2013, BrisConnections go into voluntary administration owing more than the value of the asset The board called in McGrathNicol as administrators and PPB Advisory as receivers for the $3.5 billion debt owed to a syndicate of banks led by ANZ. Other banks in the syndicate include: BNP Paribas, United Overseas Bank, KBC Finance Ireland, Societe Generale, UniCredit, BOS International, Depfa Bank, DZ Bank, and Allied Irish Banks. In November 2015, Transurban Queensland (of which Transurban owns 62.5%) announced the acquisition of BrisConnections and AirportlinkM7. The acquisition was finalised in April 2016. Construction The tunnel opened to the public at 11.55 pm on Tuesday, 24 July 2012. Milestones 19 May 2008 - State government announced BrisConnections as the preferred bidder for Airport Link November 2008 - Official start to project construction December 2008 -