EY Australia has outed itself as the big four firm involved in a court case in which a former partner is fighting to keep his name secret.
Temporary suppression orders prevented the naming of EY until now. The ex-partner and the clients still cannot be named.The partner applied for his name and the names of his former firm and clients to be suppressed, on the basis that he would be embarrassed and distressed if he were identified. At the time, EY made no submissions supporting or arguing against suppression.
In a redacted draft defence, the partner’s lawyers said they might rely on the “involvement of persons at including drafting or review of documents”. The first trust would sell property to the client’s second trust for a discounted price, in one example at cost plus $1 million. The first trust would distribute profits to a Company A, for example, which had the tax losses. Company A would pay no tax, keep part of the profit and transfer the rest of the money to entities related to the client.
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