Bankrupt former mining magnate Joseph Gutnick has defended the honour of his spiritual leader, the late Menachem Mendel Schneerson, and the value of work done for one of his companies by his wife in a day of often torrid testimony before the Federal Court.
The Takeovers Panel has frozen shares in Merlin Diamonds held by the family of bankrupt mining magnate Joseph Gutnick, New York investment fund Regals and others after allegations of collusion at a shareholder meeting in September.
Liquidators of bankrupt mining magnate Joe Gutnick’s failed Legend International are investigating the transfer of phosphate deposits worth up to $87 million to a company controlled by his sister and nephew as the group teetered on the brink of collapse in April.
Bankruptcy trustees face a daunting task as they seek to verify $275 million worth of debts declared by Melbourne mining identity Joe Gutnick, who declared himself bankrupt on Friday following a bruising legal stoush with an Indian fertiliser company.
MINING magnate Joseph Gutnick has admitted he’s in financial strife amid a $55 million lawsuit and claims he has struggled recently to even pay the rent.