Rivkin trustees recoup $2.7m


Susannah Moran | March 14, 2008

THE trustees of Rene Rivkin's estate are to recoup almost $3million from Jersey authorities, as well as financial records that could uncover new details of his Swiss bank accounts.
The Royal Court of Jersey recently approved a claim on a company called Thameslink made by Rivkin's trustee, CRS Warner Kugel's Anthony Warner and Steve Kugel.
Thameslink, incorporated in the British Virgin Islands tax haven, has $2.7 million in its bank account in Jersey. Its main asset was the luxury boat DaJoShaDiTa, named after the first letters of Rivkin's five children and used as his office.
The boat, sold in 2005, was refurbished at a cost of $2.3million in 2002. It was bought in the mid-1990s, not long after Australian authorities released the $27 million sale proceeds of a secret parcel of Offset Alpine shares. The shares soared in value after a mysterious fire in the Offset printing plant.
It was later reported that Mr Rivkin told Swiss authorities that he, businessman Trevor Kennedy and former Labor politician Graham Richardson were the owners of the shares. Mr Kennedy and Mr Richardson deny owning the shares.
Mr Warner confirmed yesterday that Jersey authorities would be releasing the $2.7 million Thameslink funds to the estate after declaring that Rivkin was the beneficial owner of the company - something Rivkin had previously denied.
"We are about to take delivery of $2.7 million from Jersey authorities in the next week," Mr Warner said.
The process of getting the money out of Jersey involved a number of court appearances in London and Jersey and public examinations in Australia.
Last year, a number of people appeared in the Federal Court, including Mr Rivkin's former accountant, bookkeeper and lawyer.
"With the admissions we got from the examinees in the Australian public examinations, we were able to use that evidence to get a declaration that Rene Rivkin was the beneficial owner of Thameslink and other companies," Mr Warner said.
As well as the $2.7 million, part of the sale proceeds of DaJoShaDiTa, Mr Warner said he would also be given access to financial records.
"We have reached agreement for the books and records of Thameslink to be released and we will be going through those with a fine tooth comb," he said.
"That could lead to other business dealings or transactions and could lead back to Switzerland." Mr Warner said other investigations were continuing in the bid to uncover further assets of Rivkin.



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