As of 15 May 2018, Queensland has a population of 5,000,000, concentrated along the coast and particularly in the state's South East. The capital and largest city in the state is Brisbane, Australia's third-largest city. Often referred to as the "Sunshine State", Queensland is home to 10 of Australia's 30 largest cities and is the nation's third-largest economy. Tourism in the state, fuelled largely by its warm tropical climate, is a major industry.
The meteorological instability in the region resulted in the formation of at least five supercell thunderstorms in the space of around three hours. The storms, which spawned progressively further up the coast from Brisbane to Gladstone as the afternoon progressed, left a trail of damage resulting from hail, rain and wind. The event has been described as "one of the most widespread [outbreaks of severe thunderstorms] recorded" by veteran meteorologist Richard Whitaker.
It went into administration in January 2009 and was placed in liquidation on 26 March 2009. The company had A$88 million in debts at the time. The collapse came at a time when an estimated 2,000 to 4,000 investors had suffered the effects of the financial crisis, and were facing significant losses. This left any investors who felt that had been misled or misguided with limited financial recourse against the company.