Irish liquidator in High Court seeking return of £56m following Australian tax dispute

Australian Tax Office found Irish-registered company did not pay the correct capital gains tax between 2013 and 2016

Liquidator says business of buying and selling securities in Australian property fund was ‘clearly very profitable’

An Irish liquidator has launched High Court proceedings seeking the return of £56 million he alleges deprived the Australian tax authorities of money which would have been available to meet a claim.

Martin Ferris, of Ferris and Associates, said Redefine Australian Investment Ltd (RAIL), an Irish company, was deemed to have incorrectly disregarded capital gains from the sale of interests in an Australian property fund it invested in.

He said the Australian Tax Office (ATO) ...