Gold Coast lawyer Beau Timothy John Hartnett’s finances revealed in bankruptcy documents
An unregistered Gold Coast lawyer who was bankrupted in a landmark Federal Court case owes almost $10m to his wife’s companies, according to documents lodged with the regulator. Read the details
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An unregistered Gold Coast lawyer who was bankrupted in a landmark Federal Court case has claimed he owes almost $10 million to his wife’s companies.
Beau Timothy John Hartnett, 60, was forced into bankruptcy after declaring he was broke to avoid paying his debts - while living in a mansion and being linked to valuable trust funds.
The bankruptcy was backdated to December 19, 2024, and Gavin King was appointed his bankruptcy trustee.
Lismore retiree Anthony Bell was owed $580,000 after Mr Hartnett charged an elderly client $288,000 to enforce a $30,000 mortgage.
Mr Hartnett then spent years in court trying to avoid repaying the money before declaring insolvency.
Mr Hartnett was found to have “exorbitantly” charged his client, with the appeals judge saying the behaviour “debases the reputation of the legal profession”.
He was struck from Queensland’s register of solicitors in December.
In ordering Mr Hartnett into bankruptcy, Justice Kylie Downes described him as an unreliable witness and rejected all of his evidence.
In his statement of affairs, filed with the Australian Financial Security Authority (AFSA), Mr Hartnett said he was “living rent free” with his wife Suzanne Weel.
Mr Hartnett’s statement said he owed $6.2m to Shandon Finance, a company solely directed and held by his wife.
He declared another $3.7m debt to Hartnett Legal Services, which has been solely directed and held by Ms Weel since he resigned as a director 12 months ago.
Mr Hartnett declared another $80,000 was owed to Kentgale Holdings, also solely directed and held by his wife.
Mr Hartnett’s statement said he had a self-managed superannuation fund worth $1.79m as well as 60 shares in a company called Hartnett Superannuation Holdings, for which he gave a zero-dollar value.
Property records show Hartnett Superannuation Holdings owns an ocean-view block of land at Bowen in North Queensland, which has been listed for sale at $325,000 since January.
The former solicitor declared before-tax wages of $125,000 for the past 12 months and wrote that he expected to earn $80,000 in the coming year. He did not declare any other income and said he had no cars or other assets worth over $2000.
Mr Hartnett said he was owed $372,765 by unnamed debtors for “professional services”, which was the same figure stated as the debt book for Hartnett Lawyers, which he said had annual turnover of $495,765.
He also declared annual turnover of $957,217 for Hartnett Legal Services, which he wrote was “currently trading”.
He declared that he had sold some shares to his wife for $32,500 and his occupation and street address were marked as “suppressed” information.
Questions for Mr Hartnett were answered by Ms Weel, also a lawyer and now the principal of Hartnett Lawyers, in an email prefaced “we act for Mr Beau Hartnett”.
The email said Mr Hartnett’s declared shares in Hartnett Superannuation Holdings were listed as being worthless because it was “ uncontroversial that shares in a corporate trustee are disclosed at nominal value only”.
Ms Weel did not wish to say anything else about the matter as “Mr Hartnett’s policy is not to comment to the media” and “I do not wish to make any comment in relation to the debts owed by Mr Hartnett to my companies”.
The court action against Mr Hartnett came after the Bulletin broke the story and sent questions to the bankruptcy watchdog.
It was the first time the Inspector-General in Bankruptcy had taken this kind of action since the Bankruptcy Act came into effect in 1966.
Bankruptcy trustee Mr King said it was too early in his investigation to provide further information.
“The investigations have only just started, but given the complexity they will take some time,” he said.
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