No quick fix for Bond probe
An estranged partner of Craig Bond has failed to get a quick court hearing amid claims the WA businessman's bankruptcy moves were thwarting a probe into the Bond family's web of trusts.
Dianne Beaman's lawyer Peter Hannan told the Federal Circuit Court that Mr Bond's decision last month to go into full-blown bankruptcy had thrown Ms Beaman's forensic investigation off track.
Ms Beaman has applied to the court to overturn the bankruptcy appointment, which came 14 months after Mr Bond began attempts to strike a compromise deal with creditors under Part X of the Bankruptcy Act.
She must now wait until at least March to see whether she can oust bankruptcy trustee Daniel Juratowitch and force Mr Bond to hand over $100,000 to kick-start her court-ordered probe of his financial affairs.
Ms Beaman had blocked Part X arrangements last year amid claims it was designed to frustrate her probe of his links to allegedly asset-rich Bond com- panies. Bond trust companies directed by family members, including his brother John, also dominate the list of creditors supplied by Mr Bond.
Companies that feature as debtors or creditors in the bankruptcy own assets including Alan Bond's family home and stakes in property trusts managed by John Bond's $1.5 billion Primewest management group.
Ms Beaman has sought internal Primewest documents about its Australia Place office tower and Bibra Lake industrial estate syndicates, as well as documents related to dealings between Craig Bond and family entities.
Mr Juratowitch has warned he would need three months to investigate Mr Bond's affairs.
Judge Toni Lucev said he had read some State court judgments related to Ms Beaman's property action and agreed the usual trustee reporting deadline of a fortnight would be "pushing it".
Ordering Mr Bond to help bankroll a forensic investigation, a WA judge last year accepted claims by Ms Beaman's legal team that Mr Bond's stated asset position was inconsistent with the number and type of entities he was associated with, especially those operating off-shore.
The judge said Mr Bond's affidavits were often vague when describing his assets and how they operated. There was also limited clear information about how assets had been disposed of and whether any money was realised.
A credit card application made by Mr Bond to Westpac in 2010 painted a "picture of considerable wealth", the judge said.
As a Federal judge, Judge Lucev said he was not bound by State decisions but they could be persuasive. He gave Mr Juratowitch until October 31 to file a report. He set Ms Beaman's bid to oust Mr Juratowitch down for three days starting March 9.
