Billabong ex-boss forged signatures

THE former Billabong chief executive Matthew Perrin repeatedly forged the signature of his wife and brother to secure a $13.5 million loan from the Commonwealth Bank, a court has found.

The Queensland Supreme Court ruling means the Commonwealth Bank cannot enforce its mortgage over the couple’s Gold Coast mansion or enforce personal guarantees against Mr Perrin’s wife, Nicole Bricknell. Justice Philip McMurdo said Mr Perrin, who was made bankrupt in March 2009 after the dramatic collapse of his business empire, went to ”elaborate” lengths to forge his wife’s signature.

In order to forge one document, he obtained a slip signed by his wife giving one of their daughters permission to take part in school sports, cut out the signature and ”by a process of cut-and-paste” produced a backdated power of attorney, Justice McMurdo found.

The judge said as a former lawyer Mr Perrin ”could not be excused for thinking that it was in any way regular to forge his wife’s signature” or that of his brother, Fraser Perrin, on a series of documents used to obtain millions of dollars from the bank between December 2006 and August 2008.

Justice McMurdo rejected the theory advanced by counsel for the bank that Ms Bricknell signed the documents using a signature different from the usual so the couple could later claim the documents were forgeries.

”It is highly improbable that they would have planned for the contingency of Matthew Perrin’s insolvency by setting up a case which would inculpate him [in] serious criminal offences,” Justice McMurdo said. ”I reject this possibility.”

He said he did not accept all of the evidence given by Ms Bricknell, the daughter of bookmaker Laurie Bricknell, about the reasons for the transfer of $4 million from company accounts to her own account on January 20 – the day she learnt of Mr Perrin’s fraud.

While Ms Bricknell said she transferred the money because she feared Mr Perrin was going to leave her following a long-running affair, Justice McMurdo said it was ”more probable” she made the transfers ”after learning of his financial position and perhaps according to what she and her husband had discussed should occur with the funds”.

That day, according to Ms Bricknell’s evidence, Mr Perrin ”told her that he was ‘broke’ and had ‘done a lot of bad things’ and that he would be going to jail”, Justice McMurdo said. Immediately after this revelation, the doorbell rang and Mr Perrin let in Laurie Bricknell, Fraser and Scott Perrin and Grenville Thynne, an investor in the Chinese supermarket venture that brought Mr Perrin undone.

”In their presence, Matthew Perrin was sitting on the floor with his hands to his head, shaking and crying, saying that he had done ‘so many bad things’ and that he was going to jail,” Justice McMurdo said.

Justice McMurdo said he accepted evidence given for the bank by Fraser Perrin that he did not sign the documents as a witness and there was ”no apparent and likely explanation for the forgeries of his signature” that was consistent with Ms Bricknell actually signing the documents.

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