Queensland: A fraudulent State of mind? Jail time for former Kleenmaid and Wickham Securities directors

In recent months the Queensland District Court has found the directors of two former Queensland based companies guilty of fraud.  This will hopefully bring a small amount of relief to those who have suffered at the hands of the fraudulent directors in question.

Kleenmaid

The first case, relating to the Kleenmaid Group of companies, is infamously one of the longest criminal trials held in Queensland.

Prior to its collapse, Kleenmaid provided retail whitegoods to an Australia-wide customer base through a series of group owned and franchise stores.  Deloitte were appointed as liquidators in mid-2009 and, at the time of writing, their website notes that the Kleenmaid group has over $102 million in liabilities.  Reports issued to creditors over the history of the liquidation tell a story of missing records, questionable transactions, minimal cash flow and unrecoverable inter-company loans all leading to a devastating “little chance of dividend” outcome for creditors.

Click here to read more.

Keep reading

...
International Asset Tracing and Recovery Course returns for second year
Mishcon de Reya is pleased to collaborate again with Blackstone Chambers and The Centre for Commercial Law Studies at Queen Mary University of London, to deliver their popular International Asset Tracing and Recovery course for a second year. Starting in February 2023, the three-day programme will centre around an asset recovery case study that is
Read
...
Gary Miller to chair panel event at International Fraud & Asset Recovery conference
Gary Miller, a Partner in our Fraud Group and Chairman of the International Fraud Group, will chair one of the panel discussions at the first International Fraud and Asset Recovery conference organised by the International Fraud Group and Singapore law firm Oon & Bazul.
Read
...
OffShore Alert 2022: Mishcon de Reya joins as a White Knight Sponsor
We are delighted to announce that Mishcon de Reya is sponsoring the 9th Annual OffshoreAlert London Conference as a White Knight Sponsor.
Read
...
IFG Hackathon 2022 Winners: DeGaYa, Indonesia
On 12 May 2022, Mishcon de Reya hosted an event to announce the winners of the first International Fraud Group (IFG) Hackathon.
Read