Ongoing saga: the latest instalment in the Banskia collapse is the bankruptcy declaration of barrister Norman O’Bryan.
Banksia class action clients have been dealt another blow with news yesterday that one of the barristers at the centre of a fraudulent scheme had declared bankruptcy
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As reported by the Herald Sun yesterday, Norman O’Bryan declared himself bankrupt in late October, listing himself as unemployed.
A Supreme Court ruling only weeks ago ordered Mr O’Bryan and four other lawyers to pay back a large portion of the $19 million in legal costs they charged Banksia investors.
Mr O’Bryan’s brother, Stephen O’Bryan, is currently serving as the government appointed special manager to Crown Resorts. His father and grandfather were both Supreme Court judges.
Kyabram-based Banksia collapsed in 2012, freezing some $660 million in funds deposited by almost 16,000 mainly rural retirees.
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