Businessman David Burke to stand trial on charges of misleading ASIC over G8 Education takeover bid

A businessman linked to a failed takeover by listed childcare giant G8 Education has been committed to stand trial accused of giving misleading statements to the corporate regulator.

A failed takeover of G8 Education has sparked four years of court action.

A BUSINESSMAN linked to a failed takeover by listed childcare giant G8 Education has been committed to stand trial accused of giving misleading statements to the corporate regulator.

David Justin Burke, 60, was charged last April with charged with five counts of giving false or misleading information to the Australian Securities & Investment Commission during an examination under oath in March and June 2016.

The maximum penalty for the charge is two years’ jail and a $21,000 fine.

At a hearing in Brisbane today, Magistrate Colin Strofield ordered Mr Burke to stand trial at a date yet to be set.

Mr Burke was examined as part of ASIC’s probe of G8’s $183 million attempt to buy out rival childcare company Affinity Education in July 2015.

In October 2015, the Takeovers Panel made a declaration of unacceptable circumstances in relation to the takeover bids.

His former colleague, ex G8 chairwoman Jenny Hutson, is due to front a committal hearing on September 30 on 30 charges related to the failed takeover.

Mr Burke and Ms Hutson sat on the board of Wellington Capital, which was drawn into the high-profile collapse of $2.4 billion MFS Group, now known as Octaviar.

Former G8 Education chairwoman Jenny Hutson.

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Ms Hutson, a brilliant corporate lawyer, won a Queensland Businesswoman of the Year award in 2007 and last year vowed to vigorously defend the charges brought by ASIC.

Ms Hutson stepped aside as chair in October 2015.

The Takeovers Panel found that three parties involved in the bid had links with Ms Hutson, an alleged breach of corporations law.

Ms Hutson has vowed to fight the charges, including two of attempting to pervert the course of justice which carry a maximum 10 year’s jail.

Mary-Anne Greaves. Photo: Supplied

Lawyer Mary-Anne Greaves, 53, avoided jail in June after being sentenced for lying about the takeover under oath to the corporate regulator.

In Brisbane Magistrates’ Court, she was discharged without conviction upon entering a $5000 two-year good behaviour bond.