Forum Finance CEO Bill Papas to face Westpac fraud allegations tomorrow

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Forum Finance CEO and football heavyweight Bill Papas will face Westpac in Federal Court tomorrow over major fraud allegations, although it is still unclear whether Mr Papas will physically attend the hearing.

Westpac has filed a civil action against leasing group Forum Finance and Mr. Papas, over alleged fraud in excess of $ 294 million.

Westpac submits observations to the Federal Court and requests the appointment of a provisional liquidator at Forum Finance.

Lawyers for Forum and Mr Papas claim the provisional liquidation was not necessary given that there were already asset freeze orders relating to Forum and Mr Papas, but Judge Michael Lee would not delay the decision. tomorrow’s hearing.

Mr Papas has yet to file a defense in court and his return to Australia to deal with the fraud allegations is uncertain, given investigations into his flight route.

Mr Papas’ attorney, Rocco Panetta, told the court on Wednesday that his client had pledged to return to Australia to respond to serious fraud allegations and that he would arrive on Saturday.

I understand he is in Europe and in transit returning to Australia. I understand he was in Greece, I don’t know where he is now. I think he’s moving to other countries to come back here, Mr Panetta told the court.

He sent me a screenshot of his booking, his flight booking Hes (Mr. Papas) said (flying) Japan Airways from Dubai to Sydney, returning on Saturday. It is said on this route from Athens.

Asked about the numbers and times of the flights, Mr Panetta said the screenshot did not show these details of Mr Papas’ flights.

GCT inquired about Japan Airlines flights online and contacted the airline, with no indication of upcoming scheduled flights from Athens to Dubai and then to Sydney. This raises questions around Mr. Papas’ itinerary.

On Wednesday, two days before the scheduled hearing, Judge Michael Lee noted curious aspects of Mr. Panettas’ statements and pointed out that Mr. Papas had already missed several legal deadlines. He said Mr Papas could participate in court proceedings electronically on Friday to express his arguments in his defense or on the appointment of provisional liquidators.

Judge Lee also issued an order prohibiting Forum representatives from deleting or modifying, other than in the ordinary course of business, any data held on servers that may be relevant to the legal case.

Mr Panetta said on Wednesday Mr Papas would not disclose his exact location.

Currently, the lawyer understands that Mr. Papas intends to return, and that intention has been confirmed by a person described as his girlfriend, the judge added.

But we currently find ourselves in the position that Mr Papas is somewhere in Europe, but refuses to even tell his lawyer where he is.

Mr Papas is expected to return to Australia on Saturday, having been unreachable by Westpac since mid-June.

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