The group consisted of 100 companies. The Group operated a vast array of businesses that ranged from property funds, corporate finance lending, child care centres, aged care facilities, funds management, ski and holiday resorts, travel, tourism and hotels.
These groups businesses were predominantly in Australia but there were also notable interests in New Zealand investment schemes and investment and advisory services in Dubai. Creditors were in excess of $1.5billion.
Investigations were hampered by the complexity of the group – there were over 400 entities and intercompany loans totalled over $500m. The loans were convoluted and documentation largely unsubstantiated. Investigations included approximately 60 days of public examinations of key executives, personnel and advisers. It also involved reviewing and investigating a significant volume of documentary material including:
Investigations focused on the following complex litigation issues:
