This email was just sent to the named gentlemen.
They have the letter from Mr David Webster via a forwarded email.
I will try to post said letter onto HotCopper.
Mr Greg Yanco
CEO
ASIC
Mr Chris Collins
Chief Legal Officer
NAIF
Mr Geread Dooley
Partner
GTLaw
Mr John Williamson - Noble
Partner
MinterEllison
Mr Peter Witham
Senior Executive Leader Misconduct & Breach Reporting
Mr Craig Doyle
CEO
NAIF
I am writing to you as SIX WISE MEN, not the usually used number of THREE.
On the matter of the proposed J - Power takeover of Genex Power Ltd I have asked a simple question:-
Under what legislative, regulatory or ministerial authority does NAIF intend to transfer the taxpayer funded $610 million concessional loan from Genex Power Ltd to the foreign corporation J - Power, (and associated legal entities)?
The situation reached with this matter is reminiscent of the situation I confronted when I successfully challenged the proposed takeover of Genex by Skip Capital, the entity owned by two individuals, Scott Farquhar and Kim Jackson.
Mr Doyle will recall his repeated efforts to avoid the issue NAIF was confronted with in that matter. Mr Doyle is aware of the efforts of the Department briefing Minister King seeking to deflect from the central issue; the wording of the Northern Australia Infrastructure Facility Act 2016. I refer here to correspondence from FAS Matthew Roper.
Mr Witham is very well aware of what went on. What went on is conveyed in an email from me to Mr Witham, dated 24 November 2022. See below. I first raised the matter in July 2022 but as the email I just referred to reveals, Genex, NAIF, ASIC and the Minister King’s Department were persistent in trying to ignore the illegal proposition promoted by Genex Power Ltd director, Mr Simon Kidston.
Back in 2022 I informed the Parliamentary Inquiry into the establishment of the NACC of what was going on; particularly, NAIF refusal to obtain an opinion from the Solicitor-General. Given NAIF has again taken the path it took in 2022 I have, as you probably all know, lodged a report of corruption with the NACC.
Now ASIC has been brought back into the dispute by Minister Gallagher who has had Minister Stephen Jones refer correspondence from me to ASIC for “consideration. At the same time Mr David Webster, FAS, Commercial Investments Division, has written to me in much the same way Mr Matthew Roper did in 2022. As Mr Roper did in 2022, Mr Webster avoided addressing the issue in this second attempt at the takeover of Genex:- “under what legislative, regulatory or ministerial authority does NAIF intend transferring the secretive"SECRET " loan".
A copy of Mr Webster's letter is attached to this email and/or will be forwarded to you separately. I will try to copy the PDF file and place it on HotCopper. Ms Alexandra Whitby, at GTLaw, will also be in receipt of Mr Webster’s letter.
Back in 2022 two partners of the legal firm Allens, Mr Charles Ashton and Mr Tom Story, provided legal advice to the Skip Capital Consortium on the proposed takeover. I confronted both of them and asked on what legal basis they had supported the Mr Simin Kidston promoted proposition to Skip Capital that Genex be acquired and in the process gain access to the $610 million NAIF loan. Both refused to clarify the matter; indeed Mr Story quickly blocked my emails. It seemed they did not want a continued association with the white collar skulduggery?
In the light of my revelations about the Allens partners it will be interesting to read what advice Messrs Doooley and Williamson-Noble gave their respective clients on the issue of foreign access to public funds via NAIF? I and others would like to know if negotiations took place between them and NAIF; (more specifically NAIF’s Chief Legal Officer, Mr Chris Collins) and what understanding was reached between. Can NAIF, (Mr Collins), produce documentary evidence about such negotiations?
You all know that Mr Justice Black has approved a TRANSACTION BOOKLET which does not address this extremely important matter. Important enough for me to cc this email to Alexanda Whitby, at GTLaw, on the understanding she will take the necessary steps to ensure it is brought, in a way required by the NSW Supreme Court and Mr Justice Black..
Once again I request NAIF obtain from the Solicitor-General, Dr Strephen Donahue KC, his opinion on the question I have put to the six of you:-
Under what legislative, regulatory or ministerial authority does NAIF intend to transfer the taxpayer funded $610 million concessional loan from Genex Power Ltd to the foreign corporation J - Power, (and associated legal entities).
I believe it would constitute corrupt administration by ASIC and NAIF if they do not make representation to Mr Justice Black to call a halt to the takeover proceedings pending resolution of this very significant issue.
Yours sincerely
Howard Patrick
19 June 2024
| Thu, Nov 24, 2022, 12:42 PM |
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Dear Mr Witham
I note what you have said; especially that no binding agreement has been reached between the Farquhar/Jackson Consortium and Genex Power Ltd.
In terms of the use of public money you know I have serious concerns about what has been proposed
I have asked the Chair and CEO of NAIF the following questions:-
Has NAIF sought a legal opinion from the Solicitor-General?
Has NAIF received a legal opinion from the Solicitor-General?
If a legal opinion has been obtained from the Solicitor-General, has that opinion been shared with the Hon Madeleine King MP?
If a legal opinion has been obtained from the Solicitor-General, has that opinion been shared with the CEO of Genex Power Ltd, Mr James Harding?
If a legal opinion has been obtained from the Solicitor-General has that opinion been shared with the ASX's Misconduct Issuer to ensure that Genex properly informs the market and its shareholders in a long awaited ASX Announcement?
If a legal opinion has been obtained from the Solicitor-General, has that opinion been shared with Mr Tom Story and Mr Charles Ashton, the Allens partners representing Jackson/Farquhar and their "Consortium".
Is NAIF prepared to provide me with a copy of the legal opinion, (if NAIF already has the said opinion), or, provide it to me once it is received?
In terms of the publicly funded concessional loan the Minister's have ultimate power but before them exercising their powers the other players have decisions to make; hopefully taking into account a Solicitor-General legal opinion on the wording and intent of the NAIF Act.
To date they have not responded to me in a meaningful way and I have no idea what advice NAIF has provided to Minister King and the Minister for Finance.
Hopefully the seemingly corrupt takeover proposal will not require further consideration by ASIC?
Yours sincerely
HLP
