The financial controller of a collapsed Queensland building company has been grilled in Federal Court about a series of money transfers from her private bank account.
Glen Norris, The Courier-Mail Subscriber only|October 21, 2019 12:11pm
The financial controller of the failed JM Kelly Group made a series of six-figure transfers from her personal bank account including to her brother’s family after the $30 million collapse of the building company, a court has heard.
Elizabeth Murphy told a public examination in the Federal Court that she received $520,795 from the sale of her Rockhampton property in May which was deposited in her Bank of Queensland account. Ms Murphy told the court that she made one transfer of $240,000 to another of her accounts and one of $102,000 to the wife of her brother John Murphy.
Mr Murphy was the director of the JM Kelly Group which collapsed in 2018 owing creditors, including scores of subcontractors, millions of dollars.
Under questioning from barrister Craig Wilkins, acting for the liquidator, Ms Murphy said the transfer to her sister-in-law was to help the family after John Murphy was diagnosed with cancer. “John can’t work and has three young children to support,” Ms Murphy said.
She said other funds were used to pay her legal expenses flowing from the public examination. Mr Wilkins said Ms Murphy had been asked to give an undertaking that she not sell assets while the public examination was on going but had not given one because she claimed her asset pool was “modest.”