JOHN SHEAHAN

John is a Fellow of the Institute of Chartered Accountants, a registered Trustee and an Official Liquidator in both New South Wales and South Australia.

John has thirty years experience working in the areas of corporate and personal insolvency. During this time he has dealt with numerous complex insolvencies that have required both advanced forensic accounting skills and a thorough knowledge of the law as it relates to insolvency and related litigation. In his capacity as an insolvency practitioner he has successfully instituted several hundred legal claims and has excellent professional relationships with pre-eminent barristers, solicitors and independent trial experts in many countries.

John works closely with both Australian and offshore investors who seek to invest in both distressed assets and potentially valuable and significant legal claims. Such investments can involve several millions of dolllars.

John has worked on many matters of national significance:

In 1990 John was retained by the National Companies and Securities Commission as an investigative accountant to assist in connection with the enquiry by Mr John Sulan QC into the collapse of the Bond Corporation Holdings Limited group of companies;

In July 1989 John was appointed liquidator of The Duke Group Limited (formerly Kia Ora Gold NL) a publicly listed corporation with over 18,000 shareholders and unsecured creditors of approximately $30 million (before claims for post-liquidation interest). Due to the nature and extent of this insolvency, it was one of 16 high profile corporate failures of the 1980s specifically reviewed by the principal corporate regulator, the Australian Securities & Investments Commission (as it is now styled).

After conducting extensive and detailed investigations and examining a number of related parties, John instituted two principal sets of legal proceedings in The Duke Group liquidation. Recoveries to date from these proceedings have resulted in payment of creditors’ claims in full and qualifying creditors have also been paid significant amounts of post-liquidation interest.

This liquidation has involved John in extensive investigative work and close involvement with court proceedings in Australia, Gibraltar, the United Kingdom and the United States of America.

John was also appointed by the Court as receiver and then liquidator of eight publicly listed companies in the Independent Resources group of companies. This group was the victim of multiple frauds by certain of its controllers. The aggregate losses of the group totalled approximately $300 million. As liquidator, John has brought a number of sets of legal proceedings, some for substantial sums, resulting in creditors of some of the companies receiving significant returns.

John Sheahan FCA
Direct: +61 8 8110 0804
Mobile: 0418 834 540
Email: jsheahan@slp.net.au