Bankwest, FTI Consulting Fees 0ver $1m charged with no work disclosed
Bankwest appointed Taylor Woodings, now renamed FTI Consulting. Both Bankwest and FTI Consulting refuse to disclose documents relating to over $1m worth of work they did and charged to my companies. (just to sell two Hotels and that excludes selling agents fees). My company was profitable yet destroyed under their management. My companies came out of receivership over four years ago and they still refuse to release any documentation for work done on my behalf and charged to my companies. What have they got to hide. I believe an awful lot! Bankwest charged 18.81% interest on the $1.2m of fees eventually charged. Its a money making rort by dishonest thugs. The new CEO of the Commonwealth Bank of Australia (who own Bankwest), the CEO of Bankwest and the directors of FTI Consulting including American directors are all aware of this yet have continued to refuse disclosure. (Sent to Alan Tantleff, New York. 7 June 2019) 24 June 2019: To Bankwest and FTI Consulting: Please now release all work done and charged to my companies? Please meet to try to resolve these issues
8 June 2012 Bankwest receiver Mark Englebert wrote to me advising that their fees to 30 April were (excluding GST) $681,438 for themselves and $374,245 for lawyers they engaged acting "on behalf of my companies" These fees total $1,055,683 plus GST for 9 1/2 months being $111,124 per month !! DOC They then wrote: "The receivers are not under any obligation to provide you with further information or documentation in relation to the matters referred to in this letter, nor are they prepared to do so. The Receivers consider that any invoices, bills of costs and recharge schedules in connection with the fees, costs and disbursements referred to above are subject to legal professional privilege and, on that basis, are documents to which you are not entitled" So even though the work was done on behalf of my companies and paid for by my companies I'm not allowed to see it. What other industry in Australia can charge like this and yet be accountable to absolutely no one. There needs to be Government action on this corrupt industry. My case is just one of thousands throughout Australia.
16 August 2013 FTI Consulting advised that Ian Francis and Mark Englebert retired as receiver Managers Mark Englebert was a Senior Managing Director of FTI Consulting DOC
FTI Consulting had taken over from Taylor Woodings the Receiver Managers involved here. Current FTI Consulting directors have been sent details on this case including the evidence that past directors lied at a 2012 Senate Inquiry. It was planned and deliberate with false and misleading evidence given (see the sink boots into customer page on this website)
ABOUT FTI Consulting: FTI are listed on the New York Stock Exchange. Market capitalization $US2.9 Billion Balance sheet shows goodwill at $US1.72 Billion Compare Challenger Share price halved since Bank Royal Commission. Down by $A4 billion (See Brian Benari page of this website) Their website is at. https://www.fticonsulting.com/about "About: FTI Consulting is an independent global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transnational. Individually, each practice is a leader in its specific field, staffed with experts recognized for the depth of their knowledge and a track record of making an impact. Collectively, FTI Consulting offers a comprehensive suite of services designed to assist clients across the business cycle – from proactive risk management to the ability to respond rapidly to unexpected events and dynamic environments."
On About: Our Values it lists FTI Consultings values including: Integrity, commitment to continuous improvement, committed to quality and accountable for results, respect and empathy. Risk factors page 18: "Risks that could materially affect FTI business, financial conditions and results of operations;" Page 19: "Failure to comply with governmental, regulatory and legal requirements or with our company-wide Code of Ethics and Business Conduct... policy...could lead us to significant liabilities and damage our reputation"
25 June 2019 To FTI Directors: Please meet to try to resolve these issues Sean Butler Perth 0419 964 487
Ian Francis the Perth Director involved in this case, he's still with FTI. Mark Englebert was the other, he's since left: I believe he was the one responsible for most of the misconduct. I believe Mark Englebert should be in jail for what he's done including lying at a Senate Inquiry.