You have 0 free articles left this month.

Lawyers Weekly - legal news for Australian lawyers

Powered by MOMENTUM MEDIA
lawyers weekly logo
Advertisement
The Bar

Court upholds freeze on Storm Financial’s $2m

The Queensland Supreme Court has extended the freeze on a $2 million payment made to Storm Financial founders Emmanuel and Julie Cassimatis.

February 19, 2009 By Digital
expand image

THE Queensland Supreme Court has extended the freeze on a $2 million payment made to Storm Financial founders Emmanuel and Julie Cassimatis.

 
 

The financial group, which ceased trading operations on 15 January this year after it was placed into voluntary administration, now owes creditors more than $80 million.

The court’s orders restrain the Cassimatis’ from paying, transferring or using in any way with the money, while an earlier ASIC statement said it was concerned there did “not seem to be a proper basis for the payment”.

Tags
You need to be a member to post comments. Become a member today
Got a tip for us?
If you have any news tips or stories to share, feel free to send them our way.
Momentum Media Logo
Most Innovative Company