Sunday, August 4, 2019

LPAB foray into international politics, 1MDB and a HK IPO demand that the Chairman (the CJ NSW) sign off the annual reports.just like other chairmen


What the 1999 Annual Report of the German listed Beate Uhse AG has to do with the Legal Profession Board NSW's lack of proper disclosure requires explanation; now read on.

In August 2018 the NSW Legal Profession Admission Board (LPAB), which is part of the Department Of Justice, and under the purview of the Attorney General NSW Mark Speakman, issued a document which held this story that can be found on the Net to be true:

Ganesh Sahathevan, RPK, Clare Brown, Ginny Stein And The Blood Money Trail

The article was in fact an attack on the current Prime Minister of Malaysia, Mahathir Mohamad,accusing him of bribing the ABC's 4 Corners program to broadcast a false story about the then prime minister Najib Razak.

In doing so the LPAB implied that the 1MDB theft, described by former US Attorney General Jeff Sissons as the biggest case of kleptocracy in history, was in fact a conspiracy engineered by Mahathir,and this writer.

The circumstances that led to the above have not been included in the LPAB's 2017-2018 Annual Report, or in any other public statement from the LPAB. The LPAB and its chairman the Chief Justice Of NSW Tom Bathurst have maintained their silence despite the incident above being reported nationally by he Australian on 17 January 2019 in the story copied/pasted below.

This silence is reminiscent of the lack of information in the LPAB's annual reports about its dealings with the political donor Minshen Zhu, and its part in Zhu's HK IPO of his company, Top Education Group Ltd:

TOP Education Institute's Bachelor of Laws : Political donations,HK Stock Exchange IPO seem to have left regulators confounded, speechless

The background to the LPAB's involvement with Zhu is interesting also given the role played by LPAB member Dr Gordon Elkington :

NSW Liberal donor Minshen Zhu's Top Group, the LPAB,the AG,and Sharon Austen Ltd

Sharon Austem Ltd was a dot com era IPO promoted by among others Legal Profession Admission Board member Dr Gordon Elkingtoon.The company collapsed a year or so after its ASX debut in 2000 but information about its IPO is still available in the public domain.The German listed Beate Uhse AG 's 1999 Annual Report (cover above ) is one example.Kate Askew's Dot.bomb is another. In contrast, Dr Elkington's work at the LPAB which led to the 2018 IPO in Hong Kong of Top Education Group Ltd remains shrouded in mystery ,with the LPAB making only the most limited of disclosures.

The LPAB annual reports are unique in that the Chairman of the LPAB, the Chief Justice Of NSW Mr Tom Bathurst, does not sign them or put his name to it.Instead he appoints presiding members who do so. Given the above, that practise needs to end, and the Chairman, the Chief Justice NSW, should like all other chairmen sign off the annual reports of the entity he oversees.

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