Bankruptcy looms as tens of millions in assets frozen

A potentially prestigious and professionally rewarding bankruptcy appointment could be imminent after the Federal Court published details of freezing orders in respect of claims totalling almost $110 million being pursued by the Deputy Commissioner of Taxation (DCoT) against Queensland property developer James Raptis.

Raptis, who is Queensland's honorary consul for Greece, was one of the state's biggest property developers until the 2009 global credit crunch rendered large chunks of empire insolvent but the freezing order proceedings, launched by the DCoT on October 1, reveal a pattern of alleged tax avoidance going . . .

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