Update A Federal Court judge has strongly warned the corporate regulator to ‘‘consider carefully’’ what it does with a decision handed down this morning that found directors of the Centro property group breached their duties when they failed to notice multi-billion dollar errors in the property group’s accounts. Continue reading
Tag Archives: Property
Inflation and debt could derail China
Credit downgrades can elicit fascinating reactions. Take a January move by Standard & Poor’s to cut Japan’s rating to the same level as China’s. I expected the backlash to come from Tokyo. Instead, it was the Chinese who were aghast. Continue reading
Arrest and charges in Dollarforce investigation
Mr Clestus Weerappah, 46, of Oakleigh, Victoria, was today arrested and charged before the Melbourne Magistrates Court in connection with an investigation by ASIC into the collapse of the Dollarforce group of companies. Continue reading
Former Gold Coast property developer committed for trial on fraud charges
Former Gold Coast developer, David Elliot Kennedy, has been committed to stand trial in the Brisbane District Court over a scheme that raised approximately $2.2 million from Australian investors. Continue reading
Victorian company director sentenced to jail
A former company director has been sentenced in the Victorian County Court to an immediate term of imprisonment as a result of an investigation by ASIC. Continue reading
Business owners 41% less optimistic than last year
There has been a 41 percent drop in optimism among Australia’s privately held business owners over the last year, with falls in consumer spending and rising interest rates the cause according to a new report. Continue reading
Ponzi scheme operator sentenced on ASIC charges
The director of a Melbourne-based loan and mortgage broking business has been sentenced today in the County Court of Victoria to four years and nine months imprisonment following an ASIC investigation. Continue reading
Former Chartwell director pleads guilty to ASIC charges
Former Chartwell Enterprises Pty Ltd (Chartwell) director, Graeme Hoy, has pleaded guilty to 47 charges following an ASIC investigation into the collapse of the Geelong-based company. Continue reading
Businessman to plead guilty to Ponzi scheme that fleeced unwary of $70m
GRAEME HOY, the flamboyant businessman who developed a penchant for fine food, luxury cars and other people’s money, is expected to plead guilty to charges arising from the 2008 collapse of the Chartwell Enterprises group. Continue reading
Melbourne director sentenced
Mr Barry John Patrick of Frankston, Victoria, has been sentenced to 4 months imprisonment wholly suspended with a requirement that he enter into a recognisance in the amount of $10,000 to be of good behaviour for 5 years, following an investigation by ASIC. Continue reading
CRS Warner Kugel trading as The Insolvency Experts © 2011. All rights reserved