Monday 30 July 2012

Pascoe to tackle Obeid trusts if appeal bid fails

PPB Advisory's Scott Pascoe.
Image courtesy PPB Advisory.
PPB Advisory's Scott Pascoe has agreed to act as trustee in bankruptcy to the estate of Moses Edward Obeid, in the event the son of former NSW Labor minister Eddie Obeid fails in his bid to reverse a $12 million debt judgment.

Pascoe consented to act after the City of Sydney Council commenced creditors petition proceedings against Obeid in the Federal Court on June 5.

 The petition is the latest in a series of bankruptcy-related applications the council has pursued since February, 2012, when the Supreme Court finalized orders from its 2011 judgment awarding damages in the millions to the Council in its dispute over smart poles with 41 year-old Obeid and his company, Streetscape Projects (Australia).

Monday 2 July 2012

EXCLUSIVE: Soul Patts snared in fraud fracas

A subsidiary of Washington H Soul Pattinson (WHSP) allegedly provided "dishonest assistance" to a $130 million pension fund fraud committed at the height of the global financial crisis.

Moses applies for FMC appeal

The $4.5 million Vaucluse home of Moses and Nicole Obeid.
Photo: SiN Images
THE woes keep multiplying for Moses Edward Obeid.

On June 25 the embattled businessman filed an interlocutory application in the Federal Court, seeking to adjourn a creditors petition filed in the same court by City of Sydney council.

Moses wants the adjournment so he can appeal a recent Federal Magistrate's Court judgement.