Star Entertainment is expected to collapse this week if it cannot access fresh funding as the financial repercussions of the alleged breaches by this group of directors overwhelmed its current management.
In earlier hearings, Higgins told the court that the amount of information available to Bekier and other executives at the time, which should have triggered probity concerns about Suncity, was “genuinely overwhelming”.
Bekier told the court on Wednesday that he and then-chairman John O’Neill attended a meeting with the casino’s regulator, the Independent Liquor and Gaming Authority (ILGA), following the reports of criminal associations and money laundering risks at its rival Crown Resorts.
He noted that ILGA chair Philip Crawford praised the regulator’s relationship with Star.
“Mr Crawford basically said, ‘Look, I like meeting with you, but I’m not sure we need to because I feel like we’ve got a good relationship with Star,’” Bekier told the court.
He confirmed that the Crown allegations, and implications for Star and its relationship with affected parties, were a significant focus for Star’s board meetings at the time.
“I have a sense that we discussed everything that was known to us about Suncity,” he told the court.
Star Entertainment was suspended from trading on Monday over its failure to lodge financial statements for the December half-year and may not trade again if its lenders fail to agree to a deal that gives the casino operator fresh funding.
Star’s board has not been able to sign off on the accounts as the group has been unable to secure financing to ensure it won’t run out of cash as early as this week.
Bekier is back before the court on Thursday.
