Westpoint’s fundraiser, Neil Burnard who was returned to Australia in June this year after being refused entry by the United States, has had his Court order extended.
Burnard who is the sole director of Palentia Pty Ltd, former Kebbel (NSW) Pty Ltd, fled the country in June after telling the Australian Securities and Investment Commission that he would be available to “speak to ASIC investigators” in relation to the $330 million collapse of the Westpoint Corporation.
However, Burnard later boarded a plane for the US.
ASIC made the urgent application after being informed by airport authorities that Burnard’s plane had not departed Australia. However, following the making of the orders, ASIC was told he had left on an earlier flight. ASIC informed the Court about this fact and the Court decided that the orders restraining Burnard should remain on foot.
Burnard was returned to Australia immediately after he landed, having been refused entry into the US.
Yesterday, the Supreme Court of New South Wales extended orders against Burnard and Palentia, which prevents Burnard and Palentia from disposing of their assets until January 29, 2007.
The orders permit Burnard and Palentia to pay certain expenses including ordinary living and operating expenses, school fees for Burnard’s children, legal expenses incurred in these proceedings up to set amounts, and payments servicing loan facilities with ‘arms length’ financial institutions.
Justice White also continued orders restraining Burnard from leaving Australia and from coming within 100 metres of an Australian point of overseas departure.
Burnard was previously required to deliver up all passports to the court and he continues to be restrained from applying for the issue of a new passport.
By Nelson Yap
