Bankwest appointed managers: FTI Consulting are lawless thugs... And Bankwest left them there charging 18% interest on their $1.3m fees! Here is proof.
The Australian Family and Small Business Ombudsman instigated an inquiry into the conduct of FTI Consulting. The appraisal was conducted by an independent umpire, an experienced impartial Barrister Solicitor. It was provided to me by the Ombudsman and they have advised there is no need now for me to keep it confidential. FTI Consulting have threatened me with legal action if I release the report. The Case appraisal mentions breaches of multiple sections of the Corporations Act: 420A Controller’s duty of care. Must take care to sell property for the best price. 180 Care and diligence. Must act in the best interests of the corporation. 181 Good faith. Must exercise duties in good faith for best interests of the corporation. 182 Use of position. Must not improperly gain an advantage or cause detriment. 184 Good Faith criminal offences. Must not be reckless or dishonest. Read the full report (link below) if more detail is required.
Link to the full FTI Consulting Case Appraisal document. Click LINK
In their responses FTI don’t even attempt to argue breaches of s 180-184. This is because they can’t.
Watch Bankwest FTI Consulting Manager Senate Inquiry video. Mark Englebert is a Corporate thug. He squirms when being questioned by Senator Cameron and then wants his false statements kept secret. The body language says it all. Click LINK
Notes on the ASBFEO Case Appraisal. INCREASED PENALTIES to $525m plus JAIL Case appraisal by Barrister Solicitor Graham Rabe dated 24 May 2019. Instigated by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO). Summary of some of the findings are: 45a“Taylor Woodings and/or their selling agents, never provided any trading figures to Mr Butler or Mr Kelly notwithstanding numerous and repeated requests that they do so.” This is illegal, I was the owner of the business and a potential buyer, to withhold vital trading figures from myself and other potential buyers is a disgrace. And done by an agent of the Commonwealth Bank.. Australia’s largest Bank. “Taylor Woodings were simply not prepared to consider any offer from Mr Butler or any party associated with him.” “Mr Butler and/or his associated entities lost the chance of receiving the benefit of any increased price for the assets that may have been forthcoming.” Illegal… these people were crooks and should be in jail. 45g“Taylor Woodings were determined not to deal with him (Mr Butler) at all material times is not an unreasonable inference to be drawn giving the alleged conflict of interest Taylor Woodings had with Mr Benari (the CEO of Challenger Financial) ….. and the “sink boots into customer” notation in the Taylor Woodings notes.” Instruction from Bankwest DOC 131. Illegal. 45j “There is strong evidence that would support a courts assessment of a high percentage probability that Mr Kelly would have made his offer but for being dissuaded not to do so.” I have a Statutory Declaration from Mr Kelly DOC 0.0 proving a case for a damage claim. 45m“A not unreasonable inference to be drawn from all the information out above is that Taylor Woodings were simply not prepared to consider any offer from Mr Butler or any party associated with him” This resulted in me losing my profitable business…and I was forced by Bankwest to pay them up to $110,000 a month and totalling over $1.3m for them to supposedly act in the best interests of MY business. Bankwest then went on to charge me 18% interest on their fees! Conclusion page 19: 53 “The likely findings would be that Taylor Woodings breached s.420A because it sold assets for less than their market value… In my opinion the conduct of Taylor Woodings also arguably breached one or more of ss, 180, 181, 182 and 184 of the Corporations Law entitling Mr Butler (or any entity associated with him…) to DAMAGES.” Serious illegal conduct in breach of all their obligations and in effect theft.
The case appraisal covers just one aspect of the receivership. Other aspects are just as bad. Bankwest and Englebert worked together to provide a Senate hearing in 2012 deliberately misleading and deceptive information on in order to conceal their dishonesty. This is Contempt of Parliament and potentially carries a jail term. I only found out about this in 2015. Senior Bankwest and FTI Consulting managers in Australia and America are aware of this and have been for some time, yet they continue to attempt to cover it up. The deliberate ongoing concealment of these breaches of Corporations Law is a breach of the law in itself. The coverup by current managers is also dishonest and potentially carries the same penalties as the crime itself. Defining Dishonesty. New Corporations Law: The definition is an objective only test, it is not necessary to prove that a defendant knew that the relevant conduct was dishonest. Instead, to establish dishonesty, it is only necessary to prove that the conduct is dishonest according to the standards of ordinary people. Englebert has clearly acted dishonestly and senior directors of FTI Consulting are aware of this yet have not done anything about it. Penalties for Breaches of Corporations Law now increased to: Maximum prison penalties for the most serious corporate offences to 15 years. Civil penalties significantly increased for companies, now capped at $525m, and for individuals increased to $1.05m. They lied to a Senate inquiry in 2012. If I had known this at the time I would have spoken to Senators and Action would have been taken then. Articles explaining increased penalties: https://mccabecurwood.com.au/directors-increased-penalties-corporations-act/