• Contact
  • Feedback
Banking Day
ConfidentiallySpeaking.com.au Logo
High-impact negotiation masterclass | July 9 & 16, 2025 | 5:00pm - 8:30pm
This high-impact negotiation masterclass teaches practical strategies to help you succeed in challenging negotiations.
Register Now
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Secret ledgers reveal money flowing out of Bill Express

28 May 2010 4:24PM
The former CEO of Bill Express, Ian Christiansen, told the supreme court of Victoria yesterday that he would try to produce evidence to support his claim that Bill Express didn't repay a personal loan taken out to buy shares in Bill Express' parent company. The share deal delivered effective control of the Bill Express group to Ian and Hal Christiansen.Peter Bick, counsel for the liquidator, said a 'secret ledger' showed a four million dollar payment was made on 29 December 2005 from Bill Express' bank sub-account to a private company owned by Christiansen and his brother. The payment was booked as a loan.The money was used to repay a Seiza Capital loan that was used to buy share options, asserted Bick."I don't know that to be right or wrong but I don't believe the funds came from Bill Express," said Christiansen."Why is money going to your company from Bill Express, Mr Christiansen?" asked Bick."I couldn't answer that," replied Christiansen."You are the CEO of the lender and one of two brothers who control the recipient of the funds and you don't know anything. Is that your evidence?""Absolutely, I don't accept Bill Express lent money to anyone."Bick asked Christiansen to bring to court any documents or other evidence he might have to support his denials about the Seiza Capital facility.Christiansen said he doubted he would be able to produce any documents.

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day
ConfidentiallySpeaking.com.au Logo
High-impact negotiation masterclass | July 9 & 16, 2025 | 5:00pm - 8:30pm
This high-impact negotiation masterclass teaches practical strategies to help you succeed in challenging negotiations.
Register Now

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use