The high-profile directors of collapsed stockbroker BBY, Ken Rosewall and his son Glenn, will take the stand during the course of a much anticipated liquidators hearing which begins today in Sydney.
Approximately 6,000 clients are owed about $61 million from BBY, which collapsed in May 2015 amid claims of insolvent trading, misuse of client monies and “gross shortcomings in corporate governance” according to liquidator Stephen Vaughan of KPMG.
Of the $61 million that has been calculated as being owed to clients, KPMG have found a there is a $23 million shortfall in available funds, and the court case will attempt to establish a case to recover …
Read the full article at: http://www.abc.net.au/news/2016-09-12/bby-directors-glenn-and-ken-rosewall-liquidators/7835102
