AFTER months of delay, during which he claimed that he was suffering from brain damage, depression and a fallen IQ, Alan Bond, the bankrupt Australian tycoon, changed his mind yesterday and agreed to appear before an examination of his bankruptcy.
Mr Bond, 55, who once controlled an international brewing, media and property empire, has been fighting an order to undergo an examination by his trustee in bankruptcy and by the liquidator of his former private company, Dallhold Investments. Once one of Australia's richest men, with a personal fortune estimated at Adollars 350m (pounds 175m), Mr Bond was declared bankrupt two years ago. Mr Bond has personal debts estimated at Adollars 500m. His large legal bills and travel expenses appear to be met by family and friends.
Robert Ramsay, the bankruptcy trustee, is seeking to locate the whereabouts of Mr Bond's assets in order to pay creditors. A week ago, Mr Bond's lawyers told the Federal Court that he did not have the mental capacity to appear before the bankruptcy examination. They said he had suffered brain damage caused by open-heart surgery in February 1993, and his IQ had fallen from a 'superior/very superior' level to less than average. His concentration, memory and speech were also impaired.
Mr Justice Ian Sheppard challenged their arguments, and said Mr Bond was sufficiently well to be able to maintain a solicitor and a counsel. In February, Mr Bond's counsel presented the judge with a psychiatric report that claimed that Mr Bond had become overwhelmed by his …