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Forum directors funnelled millions to buy luxury cars, jewellery and racehorses, court told
Financial Services 2021-08-11 7:11 pm By Miklos Bolza

Westpac has released further details of its fraud claim against Bill Papas, founder of the Forum Group of Companies, painting a picture of an elaborate scheme to misappropriate $254 million to buy real estate, jewellery, luxury cars, racehorses and European football teams.

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‘He just hasn’t tried very hard’: Westpac slams Forum founder Bill Papas’ evidence of assets
Financial Services 2021-07-30 4:49 pm By Miklos Bolza

Westpac has told the Federal Court it has “grave concerns” about Forum Group founder Bill Papas’ evidence of his assets, contained in affidavits lodged on Thursday after weeks of non-compliance with a judge’s orders.

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Forum founder Bill Papas ‘needs money’ to return to Australia, lawyer tells court
Financial Services 2021-07-28 10:22 pm By Christine Caulfield

Forum Group director Bill Papas intends to return to Australia to face $400 million fraud allegations but doesn’t have the funds for a flight home, his lawyer told the Federal Court Wednesday.

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Judge lashes Forum Finance director’s failure to comply with court orders
Financial Services 2021-07-22 9:57 pm By Miklos Bolza

A judge has issued an ultimatum to Forum Finance director Bill Papas for his “entirely unsatisfactory” conduct in failing to provide details of personal assets while defending three lawsuits that accuse him of being behind a $400 million fraud.

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Westpac confirmed as largest Forum creditor, as administrators near sale of unit
Restructuring & Insolvency 2021-07-21 11:17 pm By Christine Caulfield

Administrators have lined up a buyer for a Forum Group entity, as a first creditors meeting confirms Westpac has the largest claim to any recoveries after an alleged $400 million fraud by the equipment leasing company.

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Forum Group director stuck overseas after testing positive for COVID-19, court hears
Financial Services 2021-07-15 10:01 pm By Miklos Bolza

The director of the Forum Group companies accused of a $360 million fraud involving at least three major banks can’t return to Australia from Greece because he has COVID-19, his lawyer has told the Federal Court.

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