Quotes were being inflated at a collapsed regional Queensland building empire to secure more money from the bank, a court has been told.
Blake Antrobus, Sunshine Coast Daily Subscriber only|March 10, 2020 5:28am
QUOTES were being inflated at a collapsed regional Queensland building empire to secure more money from the bank, a court has been told.
Former employees of property developer United Project Partners revealed the explosive allegations on the first day of a public examination into the property developer at Brisbane Federal Court yesterday.
United, once a leading property developer across regional Queensland, went into liquidation in the middle of 2017.
It owed $13 million to businesses and people who had invested their superannuation in the United Group.
Six people, including United director Gene Farrelly, have been summoned to court this week to shed light on the company's collapse.
Lawyer Gavin Handran questioned former United employee Douglas Channells whether Westpac was being misled about building contracts being inflated to secure more money.