A critical email from Ashurst to Sargon’s liquidators in April 2020 was kept hidden by Ashurst until early 2022 when it was voluntarily disclosed by the recipient Wexted to the Federal Court of Australia. It remained hidden for nearly 2 years after Ashurst placed Sargon into receivership falsely alleging that outstanding interest was not paid.
The email contained a confirmation that the $4.4 million payment in December 2019 was applied fully in discharge of interest under the Secured Promissory Notes, covering a late September quarter payment and an early December quarter payment.
This email adds to the conclusive body of evidence now with police and regulators including Taiping’s own bank statements, accounting journal entries and internal emails which are all consistent with Sargon’s accounting that no interest was owing when receivers were appointed.
Creditors of Sargon will be interested to hear from Wexted as to why they withheld this critical information from their Statutory Report to Creditors dated 22 May 2020 published nearly 2 months later.
Ashurst failed to discover this critical email exchange to the Supreme Court of Victoria for over 18 months until they had no choice after Wexted came forward with the truth.
I’d like to personally thank Wexted for doing the right thing eventually.