ASSETS of key executives in the collapsed J.M. Kelly Group have been frozen by the Supreme Court as liquidators launch court action to recover more than $9 million for creditors.
Glen Norris, The Courier-MailSubscriber only|August 28, 2019 12:20pm
THE Supreme Court has frozen the assets of two key players in the $50 million collapse of J.M. Kelly Group as liquidators move to sue them for more than $9 million.
Liquidators Derrick Vickers and Michael Owen of PwC successfully applied to the Supreme Court last week to freeze the assets of John Murphy, the general manager of the Rockhampton-based group, and Elizabeth Murphy, the group’s financial controller.
The liquidators also have lodged a combined claim for damages of $9.26 million from the two executives for allegedly providing misleading advice about the financial health of the group to the Queensland Building and Construction Commission (QBCC).
Mr and Ms Murphy, who are the son and daughter of company founder Geoff Murphy, have both been questioned in the Federal Court this month as part of a public examination into the company’s collapse last year.
Supreme Court Judge David Boddice ordered that the Murphys not remove from Australia or dispose of assets up to the value of $9.3 million.
The order also applies to properties owned by John Murphy, including two...