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Westpoint directors cop earful

A Federal Court judge has cited evidence of "serious misconduct" and "ruthless disregard" for the interests of investors and creditors in the collapsed Westpoint property group as he appointed receivers to the personal assets of founder Norm Carey and three other directors. Judge Robert French also banned the men from leaving Australia during an investigation by the Australian Securities and Investments Commission into what its lawyers described in court as possibly fraudulent activities by directors in the lead-up to Westpoint Group’s receivership in February.

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