Bankrupt mining exec's mum back in court

·1-min read

The mother of bankrupt mining executive Ian Stolyar is back in court after a judge found she had been improperly transferred a portfolio of multimillion dollar Sydney homes by her son.

After mining executive Ian Stolyar and his wife Beth Ngoc Nguyen were declared bankrupt by the Federal Court on September 29, 2016, their trustee in bankruptcy Andrew Scott sought to recover any valuable assets, and recoup money owed to creditors.

In June this year, the Federal Court found Faina Stolyar had been holding onto a number of properties and millions of dollars in shares in her son's name which would have to be transferred to the trustee.

The judgment from Justice Brigitte Markovic found Ms Stolyar and her company Fanchel Pty Ltd held a $1 million property in North Bondi, a $6.75 million property in Bondi Beach, and a $13 million home in Point Piper on behalf of her son.

The judge also found Ms Stolyar was holding $3.5 million worth of shares in gaming business eBet which would have to be handed over.

Mr Scott has now launched new legal Federal Court proceedings against Ms Stolyar regarding further money allegedly transferred by Ms Nguyen from two tax refunds of around $171,000 and $70,000 in 2016.

Around $165,000 of these refunds were improperly transferred to Ms Stolyar who had since refused to repay the money, the lawsuit claims.

Mr Scott has disputed that $70,000 of this amount was paid to cover rent for another property owned by the family in Rose Bay, and has claimed the transaction was void and should be refunded.

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