Mayfair 101 founder James Mawhinney has defended writing up the value of investments, such as a mobile laundry backed by All Black great Dan Carter, based on expenses such as office rent, flowers for staff and wine.
The responses on Thursday were met at times with incredulous questioning by a provisional liquidator’s lawyer in a public examination of companies in Mayfair’s beleaguered IPO Wealth Fund group.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
