Australia: A business owner who spent over $250,000 on his children and holiday expenses over six months asked a court for pro bono help. | Practice Source - Legal News and Views

Header Image: Justice Richard McHugh

The summer holidays are over for this director says judge….

Despite directing “substantial sums” into his businesses, an income fund, personal repayments and a holiday in six months, the director of two businesses with at least 60 employees has asked the NSW Supreme Court for legal assistance ahead of his mid-February appeal.

The appeal concerns an earlier Supreme Court order for the director to pay the respondent over $2.9 million, being the purchase price of $2.5 million worth of shares in his company and interest.While Justice Richard McHugh accepted the director’s financial position had “deteriorated” since the trial and he had about $8 million in liabilities – compared to $4.8 million in current assets – he was not persuaded to make the order for a referral for pro bono help.

“What is clear is that the appellant has directed very substantial sums through his accounts in the recent past,” Justice McHugh said.

“He chose to direct $1.4 million into his businesses in the hope that they will survive and have value in the future. He spent large sums on his family and a holiday. If he has exhausted his financial resources, that is the result of the choices he has made.”

Read more at Australian lawyer

https://www.lawyersweekly.com.au/biglaw/41448-director-with-millions-in-assets-seeks-pro-bono-help?utm_source=LawyersWeekly&utm_campaign=07_02_2025&utm_medium=email&utm_content=Daily&utm_emailID=882dfb433067b4011c87c45ff376fe5c42fdf5fc8de3c999c59a0ade0bb38b91