Sydney MSP Forum Group is up for sale after the companys bank Westpac filed a lawsuit against founder Bill Papas.
On 2 July, Reuters reported that the bank had launched a lawsuit against Papas to recover the $285 million it alleges was stolen by Papas who is reported to be living in Greece, according toThe Australian Financial Review.
French investment bankSocit Gnrale is also suing Papas and one of his other companies for $9 million for alleged fraudulent loans.
The business was put up for sale on the Instruction of Voluntary Administrators, Domenic Calabretta, Thyge Trafford Jones and Grahame Ward from law firm Mackay Goodwin after the company entered voluntary administration on Monday 11 July.
Four Forum Group-related entities have b…
Read the full article at: https://www.crn.com.au/news/forum-group-goes-on-the-block-following-westpac-lawsuit-against-company-director-567314