Construction legend Wal King is among top brass of miner Terracom being sued by the corporate regulator following claims about fake coal testing.
The Australian Securities and Investments Commission said the Federal Court civil action marked its first ever “alleged breaches of the whistleblower provisions”.“ASIC alleges that Terracom and its senior company employees engaged in conduct that harmed a whistleblower who revealed the alleged falsification of coal quality certificates,” ASIC deputy chairwoman Sarah Court said on Wednesday.
Queensland-based Terracom also told the sharemarket on Wednesday the case related “to disclosures made by the company with respect to a former employee in early 2020”. ASIC’s proceedings target the company itself, Terracom’s former chairman Mr King, mining industry veteran and former board member Craig Ransley, current managing director Danny McCarthy, and chief commercial officer Nathan Boom.“The company has lawyers engaged and will vigorously defend the proceedings,” Terracom said.
Comment has been sought from Mr King, the former chief executive of construction giant Leighton Holdings.
Source: News Formal (newsformal.com)
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