Mr McGinty asks about funding for tracing Grubb's funds through St George Bank. Mr Shave denies awareness of the specific request but confirms previous funding for actions against the bank and other entities.

AnsweredQoN 180Legislative Assembly
Asked
19 September 2000
Member
Portfolio
Fair Trading

QuestionView source ↗

Will the minister confirm that Grubb’s liquidator, Mark Conlan, has requested $80 000 funding to trace funds through the St George Bank Ltd and that that request has not been approved by the Ministry of Fair Trading? If so, will the minister explain why? Mr SHAVE

AnswerView source ↗

I thank the member for some notice of the question. Neither I nor the Ministry of Fair Trading is aware of this funding request. In fact, on 11 May 2000, when responding to question without notice 802 from the member for Mandurah, I advised that I had approved the provision of funding to the liquidator of Grubb’s company, Rowena Nominees Pty Ltd, to enable the commencement of appropriate civil action against St George Bank. To date, the Government has spent more than $2m to assist the supervisors to maximise the return on investments. I have also previously agreed to the provision of some funding for Global Finance Group Pty Ltd. The liquidator, Mr Read, put out a release about that, which I will table. I will also table the question and answer which I sent to the member for Mandurah. [See papers Nos 246A and 246B.] Mr SHAVE: I can assure members that we will pursue St George Bank and some auditors and valuers who we believe should be brought to account.
Mr SHAVE replied: I thank the member for some notice of the question. Neither I nor the Ministry of Fair Trading is aware of this funding request. In fact, on 11 May 2000, when responding to question without notice 802 from the member for Mandurah, I advised that I had approved the provision of funding to the liquidator of Grubb’s company, Rowena Nominees Pty Ltd, to enable the commencement of appropriate civil action against St George Bank. To date, the Government has spent more than $2m to assist the supervisors to maximise the return on investments. I have also previously agreed to the provision of some funding for Global Finance Group Pty Ltd. The liquidator, Mr Read, put out a release about that, which I will table. I will also table the question and answer which I sent to the member for Mandurah. [See papers Nos 246A and 246B.] Mr SHAVE: I can assure members that we will pursue St George Bank and some auditors and valuers who we believe should be brought to account.
I thank the member for some notice of the question. Neither I nor the Ministry of Fair Trading is aware of this funding request. In fact, on 11 May 2000, when responding to question without notice 802 from the member for Mandurah, I advised that I had approved the provision of funding to the liquidator of Grubb’s company, Rowena Nominees Pty Ltd, to enable the commencement of appropriate civil action against St George Bank. To date, the Government has spent more than $2m to assist the supervisors to maximise the return on investments. I have also previously agreed to the provision of some funding for Global Finance Group Pty Ltd. The liquidator, Mr Read, put out a release about that, which I will table. I will also table the question and answer which I sent to the member for Mandurah. [See papers Nos 246A and 246B.] Mr SHAVE: I can assure members that we will pursue St George Bank and some auditors and valuers who we believe should be brought to account.
Neither I nor the Ministry of Fair Trading is aware of this funding request. In fact, on 11 May 2000, when responding to question without notice 802 from the member for Mandurah, I advised that I had approved the provision of funding to the liquidator of Grubb’s company, Rowena Nominees Pty Ltd, to enable the commencement of appropriate civil action against St George Bank. To date, the Government has spent more than $2m to assist the supervisors to maximise the return on investments. I have also previously agreed to the provision of some funding for Global Finance Group Pty Ltd. The liquidator, Mr Read, put out a release about that, which I will table. I will also table the question and answer which I sent to the member for Mandurah. [See papers Nos 246A and 246B.] Mr SHAVE: I can assure members that we will pursue St George Bank and some auditors and valuers who we believe should be brought to account.
[See papers Nos 246A and 246B.] Mr SHAVE: I can assure members that we will pursue St George Bank and some auditors and valuers who we believe should be brought to account.
Mr SHAVE: I can assure members that we will pursue St George Bank and some auditors and valuers who we believe should be brought to account.

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