Arabic version: قادة سابقون لمنجم هيليير يخسرون الطعن في الإفلاس

According to ABC News, former Hellyer mine chief executive Brad Monks and chairman Rodger Johnston have failed to set aside a federal court bankruptcy ruling requiring repayment of a combined $8.5 million in allegedly misappropriated funds, plus interest.

The Federal Court ordered the sequestration of their estates. In a ruling handed down on Monday, Justice Kylie Downes found the pair’s conduct during the proceedings was “improper” and said they had not provided enough evidence to raise a “real question of fact” about their knowledge of, and possible assent to, the disputed transactions.

The transactions occurred in 2022, when Monks and Johnston were directors of Hellyer subsidiary Pieman Resources. The court heard that $2.9 million was transferred from a Pieman trust account to two entities related to Monks, Corporate Hustle and Wilson Street Capital. Another subsidiary, Hellyer Gold Mines, alleged Monks misappropriated a further $2.4 million through payments to related entities and unauthorised credit-card expenses.

New owners took over the north-west Tasmanian mine in early 2024 and began Federal Court proceedings in July that year. Bankruptcy notices obtained in January 2025 totalled $5,474,241.86 against Monks and $3,016,025.95 against Johnston. The men argued the related entities were owed the money, that board circular resolutions had approved the transfers, and that the funds benefited the wider Hellyer group. Justice Downes rejected the arguments as lacking detail and documentary support.

Monks declined to comment to ABC News. In a joint statement, he and Johnston said they had been bankrupted “on a claim that hasn’t been proven” and were taking advice. The ruling may be appealed. Hellyer Metals was placed into liquidation earlier this year during a corporate restructure, while the mine’s current owners, rebranded as Celestial Pacific, have resumed operations and shipments from Burnie Port.