Search
Generic filters
Exact matches only

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.

More Articles

London: International Asset Tracing and Recovery Course

Founder member UK law firm Mishcon de Reya LLP is working with Blackstone Chambers and The Centre for Commercial Law Studies at Queen Mary University of London to launch the University’s first ever International Asset Recovery Course. The course is a five-day programme running in November 2021 that will help you build upon existing expertise […]

Read more

Gary Miller on Fraud Investigation and Asset Recovery in University World News

Building bridges and Effective Advocacy: Asian Approaches to Mediation and Commercial Conflicts

IFG Academy: Surveillance – Russia, France, Denmark and Singapore