4 Nov 2004

Australian court heard claims against new USP head

10:15 am on 4 November 2004

It's been revealed in Fiji that the man chosen as the new vice chancellor of the University of the South Pacific was taken to the Federal Court of Australia three years ago.

The Fiji Times reports that the Australian Securities and Exchange Commission took Dr Anthony Ashton Tarr to court in 2001, for failing to exercise care and diligence, as a trustee of a superannuation fund.

The newspaper says the commission launched the court action against Dr Tarr and three other directors to recover more than a million dollars in damages after losses made by QLS Superannuation Limited.

QLS was the trustee company of the Law Employees Superannuation Fund which had 6,800 staff members working in the legal profession.

On its website, the Australian Securities and Exchange Commission said Dr Tarr and the other trustees failed to exercise the requisite degree of care in approving loans.

In July 2002, the Commission was paid a million dollars in compensation from the insurers of the four men and discontinued the legal action.

The Fiji Times says the USP has refused to comment on the matter, saying it will issue a press release in two weeks.