The operator of Brisbane's AirportlinkM7 toll road has entered a trading halt as it negotiates with lenders.
BrisConnections securities have been placed in a trading halt on the ASX at the request of the toll road operator, as it continues discussions with its lenders.
The company says the trading halt will continue until Wednesday, or until it makes an announcement regarding the outcome of the negotiations with its lenders.
Two BrisConnections directors have also resigned today, with Andrea Harcourt and Richard Wharton leaving the company, effective immediately.
Mr Wharton joined the board in 2008, while Ms Harcourt has been a director since 2010.
Earlier this month BrisConnections appointed restructuring and insolvency specialist PPB Advisory to review the operation, sparking speculation it was in danger of falling into receivership.
The AirportlinkM7 toll road has only seen half of the forecast amount of traffic since it opened in July this year.
An academic says the company is heading for inevitable financial collapse.
Dr John Goldberg from the University of Sydney served on a New South Wales parliamentary inquiry into Sydney road tolls.
Dr Goldberg has told ABC Brisbane radio BrisConnections has followed other failed toll roads in Australia by using traffic forecasts that have little relationship with the reality of how many cars end up using the road.
"They take the outcome for investors as a starting point and they work back to find the traffic that will produce that revenue," he said.
"Now this is totally false.
It's an artificial thing that's been on the books for years."