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China state-owned lender firm named in Parliament for deliberately bankrupting Australian company

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Exclusive: A Chinese state-owned financier bankrupted an Australian company by misdirecting payments as a deliberate attempt to take ownership, parliament has heard | Gallo_Ways ausbiz auschina

Documents tabled in Federal Parliament on Tuesday afternoon reveal China Taiping Insurance Group last year engaged an Australian public relations firm to advise on “media control” as one of its entities launched a “takeover” of superannuation fintech Sargon Capital.

There is no suggestion that Bluechip Communication or its staff were aware of the claims about unpaid debts or were involved in any wrongdoing. The internal documents show the company wanted the media to refrain from referring to “China Taiping” but rather two other arms of the company – Taiping Trustees and Taiping Financial Holdings.

“One of the best defences is offence – for McGrath Nicol formally, or others informally, to establish clearly with media what led to the recovery action by your associated entity, for them to use the name Taiping Trustees or Taiping Financial NOT China Taping in backgrounding media, and for the events that lead to the appointment of receivers to become public,” Ms Calder wrote.

 

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