For Travers Duncan , who will appear again today before the NSW Independent Commission Against Corruption, the $500 million bid for Cascade Coal in November 2010 wasn’t the first related party deal he had overseen as a member of the White Energy board.

Seven months earlier, White Energy had bid for another unlisted group, South Australian Coal Ltd (SACL), of which he was chairman. SACL had low-grade thermal coal assets in South Australia that were spun out of Felix Resources , yet another company Duncan had chaired.