Liquidators pay out consultancy fees from Octaviar funds
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The former liquidator of Octaviar, Deloitte, paid out $940,000 in consultancy fees to a company founded by Octaviar’s former chief financial officer, David Anderson, according to media reports.
Deloitte paid out the fees from October 2008 to September this year to a company founded by Anderson, for helping them wind down the failed finance group.
Anderson is the sole director of the company. Deloitte paid out several workers of the business, but Anderson would not reveal how many, according to an article in the Sydney Morning Herald.
Accounts filed by Deloitte also showed approximately $40,000 a week in additional fees were paid out to former Octaviar staff members.
Deloitte accounts also record payments of approximately $4,300 to AFS Strategic Consulting, which is owned by HFA Holdings company secretary Joanne Hill.
Deloitte was replaced by Bentleys Corporate Recovery last month, after one of the creditors of Octaviar objected to Deloitte paying $20 million to another creditor, Fortress. Approximately five former staff members of Octaviar are still working with Bentleys.
Octaviar and its subsidiaries went into administration in September last year. The company has approximately $1.7 billion of debt.
AUTHOR
Benjamin Levy
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