Leaked settlement deeds reveal just how far ANZ bank had to go to end one of Australia’s most high-profile court claim s stemming from a spectacular corporate receivership. High-profile Perth entrepreneurs Pankaj and Radhika Oswal extracted $169 million from ANZ in the 2016 settlement, according to documents leaked from Cypriot firms, which also reveal the bank helped pay their outstanding taxes. It ended a legal dispute that had dragged on for years and run into billions of dollars.
The ANZ payments also helped generate a new start for the Oswals, who had been forced to abandon their unfinished $70 million Perth mansion that had been dubbed “Taj on Swan”. They have since gone on to acquire a home in Switzerland that enthusiastic Indian media articles say is worth at least $US200 million ($314 million). The Oswals were entrepreneurs behind an ammonia plant, touted as the world’s largest, on WA’s Burrup Peninsul
Source: Law Daily Report (lawdailyreport.net)
ANZ Bank Settlement Court Claim Perth Entrepreneurs Pankaj Oswal Radhika Oswal Leaked Documents Taxes Dispute Switzerland
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ANZ CEO defends aggressive pricing strategyANZ CEO, Shayne Elliott, defends the bank's aggressive pricing strategy and emphasizes the importance of providing a better deal for customers while generating a fair return for shareholders.
Source: FinancialReview - 🏆 2. / 90 Read more »
ANZ CEO says homeownership is now the preserve of the richANZ CEO Shayne Elliott has labelled homeownership the"preserve of the rich" amid a crisis of affordability, as others warn of mounting pressure from rising migration levels.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Will Commonwealth Bank respond to mortgage pricing from ANZ?OPINION: Most analysts believe the country’s biggest bank has no choice but to blink in the mortgage wars. But CBA boss Matt Comyn is standing his ground.
Source: FinancialReview - 🏆 2. / 90 Read more »
Flies Swarm Perth as Swatting Season BeginsSwatting season is in full swing and flies are causing a nuisance in Perth. The issue extends beyond the city, with warm weather and strong winds bringing the bugs down from the north of the state. Flies thrive in hot and dry conditions and can travel long distances in the wind.
Source: 7NewsAustralia - 🏆 11. / 71 Read more »
Rental Affordability Declines in Australian Capital CitiesRenters in every Australian capital city are in a worse position than they were before the pandemic, according to the latest Rental Affordability Index report. Sydney remains the least affordable capital city in the country with a decline of 13 per cent in affordability, while Melbourne and Perth each recorded declines of 10 per cent. The report highlights that the issue of rental affordability is now a national problem, affecting both big cities and regional areas. The situation is exacerbated in regional areas where income levels are lower compared to capital cities.
Source: abcnews - 🏆 5. / 83 Read more »
PwC Accused of Assisting Russian Oligarch in £1bn TransferLeaked documents suggest that PwC helped a Russian oligarch attempt to transfer £1bn in a public company on the day he was placed under EU sanctions. The documents were part of the Cyprus Confidential project, raising questions about PwC's role.
Source: GuardianAus - 🏆 1. / 98 Read more »