Former Guvera CEO Darren Herft reveals plans to launch Dragonfly Music as he is grilled in court over company’s collapse

A new music business could rise from the ashes of stricken streaming firm Guvera, it has emerged, as liquidators of the failed company strive to unravel the circumstances behind its demise that left shareholders out of pocket.

Former Guvera boss Darren Herft

Guvera’s former chief executive Darren Herft, who was also the boss of private equity group AMMA which raised funds for Guvera, was yesterday quizzed in Sydney’s Federal Court during the first day of a public examination into the company’s operation and subsequent failure.

Herft was questioned for almost five hours in proceedings instigated by liquidators Deloitte.