Law & Regulation

Judge refuses to halt liquidation process for Eric Watson's Cullen Group

Pattrick Smellie
Mon, 02 Dec 2019

Pattrick Smellie
Mon, 02 Dec 2019
The High Court has rejected expatriate businessman Eric Watson's attempt to delay payment of more than $500,000 in overdue court costs in a decision that rubbishes the tactics used.In the latest twist in the one-time corporate high-flier's long-running tax avoidance case, lawyers for Watson tried to argue that if his Cullen Group was forced to pay the $505,399.05 in interest costs, it would likely tip the firm into liquidation.Cullen Group already owes the Inland Revenue Department $114.7 million in unpaid tax and interest, plus as yet undeterm...

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