Andrew Demetriou to pay $360,000 in settlement claims after Acquire Learning collapse

·

Former AFL boss, Andrew Demetriou, will pay $360,000 to settle claims against him totalling nearly $45 million over the collapse of vocational education group, Acquire Learning.

The Age reports that the payment is part of a $5.1 million settlement between the former leadership and shareholders of Acquire Learning and liquidators to the group.

Acquire was a significant player in the vocational education sector, but the group collapsed in 2017 following a government crackdown on the sector.

Acquire’s collapse left it owing its creditors, including the federal government, $147 million and stranded tens of thousands of students attending its colleges.

Acquire’s former Managing Director, John Wall (left), and Andrew Demetriou in 2015. Photo: news.com.au.

READ MORE: Crown Resorts director, Andrew Demetriou, denies dishonesty at casino inquiry.

Mr Demetriou was a shareholder in the group and the $360,000 settlement with liquidators from Cor Cordis relates to the repayment of shareholder loans taken out by his private company Katia. 

As part of the settlement, The Age reports that Cor Cordis has agreed not to pursue a separate claim against Katia for $753,826.

Mr Demetriou will have six months to pay the settlement claims. He declined to comment when contacted by The Age and Sydney Morning Herald on Tuesday.

READ MORE: Crown Resorts director Andrew Demetriou resigns from board.

Source: The Age.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

The Larcos family: Navigating generational trauma from the Turkish invasion of Cyprus

The Larcos family could never have anticipated the upheaval that awaited them when they made the decision to relocate from Australia to Cyprus.

A lifetime of diplomacy: A conversation with Prokopis Vanezis

It was an afternoon full of stories—many untold—poetry, dragons, and a single fairy unfolds as the present meets the past to discuss the future.

Cyprus’ cultural heritage is not for sale

For centuries, ancient artefacts, art, and relics have been a topic of ownership, provenance, and morality debates.

Beyond sheftalies: Cypriot Australian youth keep reunification flame burning 50 years on

Young Cypriot Australians, born decades after the Turkish invasion of Cyprus in 1974, are grappling with the conflict’s enduring legacy.

50 years of occupation: Who remembers Cyprus?

At the Ledra Palace check point in Nicosia, Cyprus stands a red and white sign that reads: ‘TURKISH REPUBLIC OF NORTHERN CYPRUS FOREVER.'

You May Also Like

Remembering Papaflessas: Prominent Greek War of Independence figure

Georgios Demetrios Flessas was a Greek patriot, priest, and government official who became known as a hero of the Greek War of Independence.

Corfu serial rapist re-arrested and held on new rape charge

A convicted serial rapist was under police guard in a Corfu hospital on Monday after suffering severe injuries trying to evade arrest on new rape charges.

34th HACCI Awards to recognise excellence within Greek Australian community

Marking its 34th year of operation, the Hellenic Australian Chamber of Commerce and Industry presents its annual Awards tomorrow night to the best and brightest of the Greek community.