An investor trying to recoup losses from the former investment manager to disgraced Firepower boss Tim Johnston has failed in his attempts to stop the former bankrupt from leaving the country.
In the WA Supreme Court yesterday small-time investor Tim Boase argued the former financial adviser to Mr Johnston, Perth man Quentin Ward, was a "flight risk" and may not return to Australia if he was allowed to leave.
Mr Boase is pursuing a civil case against Mr Ward over his role in the Firepower collapse.
Mr Ward, who is banned from managing companies until 2017 following the 2008 collapse of the Perth company, revealed he had plans to travel to the Philippines later this month, returning on March 6.
In response to Mr Boase's concerns, Justice Andrew Beech said the court could confiscate a passport in a criminal case, but not in a civil case.
Speaking out of court, Mr Boase would not reveal how much he is trying to recoup from Mr Ward, and business associated with Firepower, but said it was a "significant sum".
Firepower's collapse in 2008 left hundreds of mostly small investors out of pocket to the tune of more than $80 million.
Mr Boase, who is representing himself, is due to lodge his statement of claim on January 29.
In a separate case, litigation funder IMF is pursuing a claim of up to $40 million on behalf of 242 Firepower investors. The case is ongoing.