Reported in Australian.news.com.au pertaining to the Westpoint collapse which sounded like the Arthur Andersen case’s of scrapping off files pertaining to the Enron’s case
“More than 27,000 files have been deleted from the computer system of a subsidiary of the collapsed Westpoint property group.
The Westpoint collapse left 4000 investors, many of them self-funded retirees, facing losses between them of $400 million.
Mr Carey is accused of stripping $11 million from Westpoint in the months preceding ASIC’s move to appoint receivers.
The move was revealed in the Federal Court yesterday as receiver Brian McMaster sought to gain access to the information contained within the deleted files. Details have already been taken of the Redchime computer system but until yesterday receivers were not permitted to get access to documents relating to company founder Norm Carey.
In an affidavit to the court, Mr McMaster said it had been possible to restore only 13,000 of the deleted files.
In excess of 97 per cent of the deleted files were erased on (the 8th) and on the morning of 9 June 2006,” Mr McMaster said in his affidavit.
More than 4000 of the deleted files contained references to Mr Carey. But it could not be established who had deleted the files. Mr Carey’s cross-examination has been delayed until
it can be determined if the deleted documents are relevant to his questioning.
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