Climate 200 bean counter Damien Hodgkinson departs; Ross McEwan dips in for Brick Lane Brewing

It appears Damien Hodgkinson ceased his ­directorship and shareholdings with Climate 200 in early August, but he remains a company secretary and a member of the advisory council – at least for now.

Damien Hodgkinson was the revered bean counter of Simon Holmes a Court’s Climate 200 outfit but apparently he’s walked out on the fundraising group, ending his enduring association with the grassroots organisation.

Hodgkinson wasn’t just a point man for the teals. He was a director and shareholder of Climate 200 and worked as a financial controller for its numerous high-profile independent candidates, establishing the discreet bankrolling structures that helped fund their campaigns.

Largely unknown, he became the subject of heightened scrutiny earlier this year after being thrown under the bus by Warringah MP Zali Steggall for incorrectly recording a $100,000 donation. The funds had poured in from coal investor John Kinghorn and been pledged to Steggall’s 2019 campaign. Needless to say that revelation alone was a matter of some inconvenience.

It was all closely examined by the Australian Electoral Commission, which found the cheque had not been made public ­despite exceeding the disclosure threshold – the total had been split into eight separate donations, but that hardly fooled the squares at the AEC.

Margin Call’s inquiries suggest Hodgkinson ceased his ­directorship and shareholdings with Climate 200 in early August, but he thus far remains a company secretary and a member of the advisory council – at least for now.

Contacted for comment, he confirmed that he had indeed stepped away and would probably spend more time devoting himself to Sydney WorldPride 2023, an event of which he is chair.

–

Fletcher’s invite error

Did Paul Fletcher not get the memo? How else are we to explain the Liberal member for Bradfield’s invitation to Margin Call’s affiliates to attend a fundraising dinner in parliament’s Mural Hall?

Liberal member for Bradfield Paul Fletcher. Picture: John Appleyard

Readers of this column have already been apprised of this malarkey, but briefly again for the cheap seats: Anthony Albanesehas banned all fundraisers from taking place in the parliamentary building, except those held by charities and not-for-profits.

We obtained the invitation and made inquiries as to how the Fletch could have skirted the Albo decree. We then learned it was a mistake and a revised invitation would be dispatched with details of a new location. Prices are $900 for non-party members, or $500 if they can remember the secret handshake.

–

Promises promises

Mitchell Atkins is a hard man to pin down these days, but the founder of the defunct Magnolia Capital is still promising clients that he will return their money. That’s the hope, anyway.

As recently as last week he emailed one investor thanking them for seeking the return of their funds. “I have been occupied recently with legal matters,” Atkins said.

“Be assured it is my priority to ensure that investors are repaid in full.”

But priorities can prove flimsy, and we note Atkins was spinning a similar line last month, and the month before that, which is around the time Magnolia took the step of shutting its doors.

For now he’s blaming the woes of his firm on several court actions that are clogging up his time and choking off liquidity.

There’s a Federal Court matter against Melbourne businessman David Koadlow, who’s seeking the return of about $12m, while in the NSW Supreme Court a judge has frozen about $750,000 of Magnolia’s assets. That case goes to trial next month.

Meanwhile, recent filings in the Koadlow matter shed at least some light on the mysterious disappearance of that $12m, which had been entrusted to Atkins for the use in a joint investment fund.

One version of what happened is that Koadlow’s money was used to secure margin loans, and then later to “clear margin calls made on Atkins’ personal accounts”, the filings say.

Koadlow, of course, alleges that he never agreed to any of those arrangements, nor was he “informed about any margin lending … to the extent alleged by Atkins”. As far as the court has been told, Koadlow thought the money was destined to be spent buying up shares in microcap companies.

An additional curiosity to all of this is whether all of his money is actually gone or whether funds still remain. Koadlow’s legal team says Atkins hasn’t produced documents of “any clear, coherent or concise accounting as to the asserted impact of margin calls”. “It remains unclear as to how it is alleged (Koadlow’s) investments had been lost,” the latest filings state.

The case is due back for mention later this month. Meanwhile, we’re hearing Atkins has been enjoying himself abroad and was spotted not long ago in Singapore attending the Formula One Grand Prix.

–

Dipping in for brewer

The deep-pocketed backers of Brick Lane Brewing Co have once again dug deep to fund the company’s expansion, taking it to an equity value of almost $65m in the four years since inception.

Ross McEwan has increased his stake in Brick Lane Brewing Co to about 4 per cent. Picture: Arsineh Houspian

Founded by Paul Bowker and Andrew Scrimgeour, Brick Lane’s notable investors have coughed up about $4m in fresh equity. Among them is National Australia Bank boss Ross McEwan, who’s re-upped his stake in the company to a holding of about 4 per cent.

Who are the others on the share register? JPMorgan chair Rob Priestley, Evans and Partners executive chair David Evans and Port of Melbourne boss Saul Cannon.

Even more dosh was added to the pile courtesy of Eddie McGuire and gambling entrepreneur Matt Tripp, fresh from launching his bookmaking venture Betr (backed by News Corp). And doesn’t that look to be a frontrunner for one of those coveted West Australian wagering licences.

Tripp, as some may know, is part-owner of NRL club Melbourne Storm with fellow shareholder Bart Campbell. No prizes for guessing he’s also rather taken with the Brick Lane elixir. Club legend Billy Slater is also in with a few quid, as is comedian Mick Molloy.