Hearing into insolvency of ex lawyer Beau Hartnett and trustees Adam Kersey, Anne Meagher
A hearing into how disgraced former lawyer Beau Hartnett avoided his debts without going bankrupt is set to begin in the Federal Court of Brisbane on Tuesday. Here’s what to expect.
Gold Coast
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A hearing into the actions of disgraced former lawyer Beau Hartnett, and of two accountants who advised him, is set to begin in the Federal Court of Brisbane on Tuesday.
The three-day hearing will examine how Mr Hartnett was able to declare he was broke and avoid paying hundreds of thousands to creditors, while avoiding bankruptcy and maintaining a millionaire lifestyle.
The court action against Mr Hartnett, as well as his insolvency trustees Anne Meagher and Adam Kersey of SV Partners, came after Gold Coast Bulletin questions to the bankruptcy watchdog.
In it, Inspector-General in Bankruptcy Timothy Beresford seeks to set aside a personal insolvency agreement for Mr Hartnett, which saw his creditors paid less than three cents for every dollar they were owed.
Elderly Lismore man Anthony Robert Bell – owed $584,589 by Mr Hartnett – is also named as a respondent and has lodged a counterclaim in the matter.
Scathing court documents lodged by the Inspector-General allege Ms Meagher and Mr Kersey did not scrutinise “very suspicious” creditor claims before approving them to vote on the contentious agreement.
The agreement was passed by a majority of the approved creditors, the largest of which was a trust held by Mr Hartnett’s wife Suzanne Weel.
In their defence, the trustees outlined multiple ways they sought to verify the claims of creditors before admitting them to vote.
Mr Hartnett’s defence, which was prepared and signed by Ms Weel as his solicitor, said he intended to pay $584,589 he owed Mr Bell by borrowing against his wife’s $3.25 million home.
There is no allegation of wrongdoing by Ms Weel, who is no longer representing her husband in the matter.
Mr Hartnett’s name was struck from Queensland’s register of solicitors in December after he withdrew an application to renew his Practising Certificate.
The hearing before Justice Kylie Downes starts at 10.15am.
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Originally published as Hearing into insolvency of ex lawyer Beau Hartnett and trustees Adam Kersey, Anne Meagher
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