Court documents show the debt was reduced to $203,000 through repayments or credits allowed by the time Mr Jane was served with a bankruptcy notice in March 2016.
The tyre titan was one of Mr Mitchell’s first clients when he opened his ad agency in the 1970s and the two remained friends, with Mr Mitchell writing in his memoirs that he presented Mr Jane with a penny at his 78th birthday.
Documents filed with the Australian Financial Security Authority show Mr Jane owes $105 million to the Australian Taxation Office for capital gains tax and owes other unsecured creditors $2.9 million.
That includes a $914,460 sheriff’s warrant for court costs, a separate $560,000 Supreme Court cost order, $2990 debt to a car insurer, $3292 in council…
