Margin Call: Carlie Boal the star of Cormack Foundation legal battle

Victorian Liberal state president Michael Kroger leaves Federal Court in Melbourne yesterday with JT Campbell’s Carlie Boal. (Picture: David Geraghty)

Behind every great man is a great woman. Just ask former Victorian senator Helen Kroger or Crown Resorts communications supremo Ann Peacock, daughter of former Liberal leader Andrew Peacock.

Both were once married to Michael Kroger, 60, who as Victorian Liberal president was back in Melbourne’s Federal Court today to oversee the party’s fight with the Cormack Foundation, the outfit created in 1988, half a lifetime ago, when Kroger was thirty-years-old and the Vic Libs president the first time around.

Once again Kroger was joined by his trusty personal assistant Carlie Boal.

Michael Kroger leaving the court yesterday flanked by Carlie Boal. (David Geraghty/The Australian)

The twenty-something’s appearance on Monday with Kroger for the battle with Charles Goode and the Cormack gang was perhaps the most discussed detail from day one of the Liberals family feud.

Who was the brunette in the striking white ensemble, eyes masked behind Gwyneth Paltrow-style Ray-ban Aviators, striding confidently alongside the Melbourne powerbroker?

Boal, who mixed it up with a black ensemble for day two at the Federal Court, has worked at Kroger’s 25-year-old corporate advisory outfit JT Campbell & Co as his assistant for almost four years.

Carlie Boal outside Melbourne’s Federal Court earlier today. (David Geraghty/The Australian)

In its heyday, Kroger’s advisory shop occupied space in the prestigious 101 Collins Street building (which Goode’s boutique advisory outfit Flagstaff now calls home), but has long since moved to less pretentious digs.

Kroger’s deals are now lower profile, but apparently still lucrative enough for him to personally commit $1 million to cover the costs of the Victorian Liberals if they lose against Kroger’s mentors-turned-nemeses at Cormack.

Boal’s finances seem to be in good shape too.

In November 2016, Kroger’s JT Campbell was a key player in the float of market minnow Mayfield Childcare (MFD), which, under Dean Clarke’s leadership, operates 17 childcare centres in Victoria.

Entities associated with Kroger appear to have picked up 1.36 million shares in the $1-a-share issue, now worth $1.43m.

Melbourne retail billionaires Marc and Eva Besen and their daughter Naomi Milgrom (who controls the Sussan Group) also got stock in the $30m float. So did Boal.

Indeed, come August, Boal will be free to sell the 200,000 Mayfield shares she picked up in the capital raising, but which until then are subject to a voluntary escrow agreement. Cha-ching.

Read the full Margin Call column tomorrow in print and online.