KLEENMAID had come to the attention of federal financial agencies up to three years before it collapsed, a court has heard.
Former Kleenmaid directors Andrew Eric Young, 62, and Bradley Wendell Young, 44, BOTH CORRECT have pleaded not guilty at the Brisbane District Court to defrauding Westpac of a $13 million loan and 18 counts of operating a company while it was insolvent.
The court has heard the company was declared insolvent in 2009 and administrators were appointed after a Westpac Bank investigation.
It owed creditors $96 million, including about $28 million to Westpac alone.
But former Australian Securities and Investments Commission accountant Meaghan Leslie Brooks CORRECT told the court on Wednesday the AS…
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