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2011年7月3日星期日

ASIC brings criminal charges against Westpoint founder

在 ServiceModel 客户端配置部分中,找不到引用协定“TranslatorService.LanguageService”的默认终结点元素。这可能是因为未找到应用程序的配置文件,或者是因为客户端元素中找不到与此协定匹配的终结点元素。
在 ServiceModel 客户端配置部分中,找不到引用协定“TranslatorService.LanguageService”的默认终结点元素。这可能是因为未找到应用程序的配置文件,或者是因为客户端元素中找不到与此协定匹配的终结点元素。
Updated July 1, 2011 17:29:00

Australia's corporate watchdog has brought criminal charges against the founder of failed property group Westpoint, who faces a maximum of five years' jail if convicted.

Westpoint collapsed in 2006, owing 4,000 investors about $300 million.

The Australian Securities and Investment Commission (ASIC) has charged founder Norm Carey, along with company secretary Graeme Rundle, with breaching their duties as officers of Westpoint.

ASIC also alleges this came while the pair executed deeds extending the time for Westpoint to exercise an option to purchase the Warnbro Fair Shopping Centre in Perth.

The move is the latest in a series of legal actions between the two.

On Monday Carey said he had taken out a misfeasance action against ASIC, arguing it had relied on incorrect evidence and withheld information from the court as part of its bid to shut down Westpoint.

In a statement, Carey said that ASIC applied to wind up York Street Mezzanine knowing it would trigger defaults in Westpoint's lending covenants which would systematically cause its collapse.

He also said ASIC withheld from the Federal Court the Deloitte solvency review which found that Westpoint and its entities, including YSM, were solvent.

The trial for those allegations is set down for November.

Tags: business-economics-and-finance, company-news, consumer-finance, industry, housing, law-crime-and-justice, courts-and-trials, fraud-and-corporate-crime, management, australia, wa, perth-6000

First posted July 1, 2011 17:16:00


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2011年7月2日星期六

ASIC charges former Westpoint directors

在 ServiceModel 客户端配置部分中,找不到引用协定“TranslatorService.LanguageService”的默认终结点元素。这可能是因为未找到应用程序的配置文件,或者是因为客户端元素中找不到与此协定匹配的终结点元素。
在 ServiceModel 客户端配置部分中,找不到引用协定“TranslatorService.LanguageService”的默认终结点元素。这可能是因为未找到应用程序的配置文件,或者是因为客户端元素中找不到与此协定匹配的终结点元素。
Posted July 1, 2011 17:11:00

The Australian Securities and Investments Commission has charged the former directors of the failed Westpoint group, Norm Carey and Graeme Rundle, with breaching the Corporations Act.

Thousands of investors lost a total of $400 million when Westpoint's complex property schemes were shut down in early 2006.

ASIC alleges Mr Carey and Mr Rundle breached their duties during financial transactions relating to the purchase of the Warnbro Fair Shopping Centre in 2006.

The matter will return to court in two weeks.

The charges carry a maximum jail term of five years.

Tags: fraud-and-corporate-crime, perth-6000


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