A New Zealand-based insolvency expert has been put in charge of a new state government authority that will decide how $1.7 billion from the Bell Group litigation will be distributed.
The state government is utilising rarely used powers under the Corporations Act to take control of $1.7 billion owed to creditors of the failed Bell Group and ensure a big slice of that money is distributed to Western Australian taxpayers through the Insurance Commission of WA.
The state government will introduce legislation into parliament tomorrow designed to finalise the long-running Bell Group legal case, in which the Insurance Commission of WA and other creditors are fighting over a $1.7 billion payout.
Kerry Stokes is one of Australia’s wealthiest and most private business leaders, but that has changed with the release of two biographies in two years. However conspicuous gaps in what we know about his deals and erstwhile partners remain.
It might be playing with fire to own a pair of asbestos gloves these days, but Colin Barnett should borrow a pair before finalising a red-hot deal to sell the Kwinana Bulk Terminal to building materia
A Supreme Court judge has ordered the $1.5 billion owed to liquidators of Alan Bond's former Bell Group of companies be either put into a Public Trust or a bank account with one of the major banks.
The founder of Sanford Securities, Steven Goh, has teamed up with Melbourne-based financial services company Bell Group to launch a new, low-cost online stockbroking service.
13 Nov 2007
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