Supreme Court freezes assets of J.M. Kelly executives
THE Supreme Court has frozen the assets of two key players in the $50 million collapse of J.M. Kelly Group including a property portfolio in Rockhampton.
Liquidators Derrick Vickers and Michael Owen of PwC successfully applied to the Supreme Court last week to freeze the assets of John Murphy, the managing director of the Rockhampton-based group, and Elizabeth Murphy, the group's financial controller.
Mr and Ms Murphy, who are the son and daughter of company founder Geoff Murphy, have both been questioned in the Federal Court this month as part of a puiblic examination into the company's collapse last year.
Judge David Boddice ordered that the Murphys not remove from Australia or dispose of assets up to the value of $9.3 million.
The order also applies to properties owned by John Murphy, including two houses in the Rockhampton suburb of Park Avenue and a unit in the Empire Apartment building in the central Queensland city. A house in Yeppoon jointly owned by Elizabeth Murphy and several of her siblings also is the subejct of the order.
The freezing order will be the subject of a further hearing on Friday.