Robert Kite.
Being injured on the job is generally unfortunate but for South Coogee man Dane Stojic a workplace accident has proved fortuitous.
The subsequent worker’s compensation payout – which was not divisible among his creditors before he was discharged from bankruptcy bankruptcy last year – will assist his wife as she seeks to overturn findings of involvement in a multi-million dollar phoenixing scheme.
These curious workings of fate were on display this week as Shumit Banerjee, liquidator of Eastside Formwork Pty Ltd (Eastside), sought to prevent Mrs Connie Stojic from further encumbering her South Coogee home, a property Banerjee hopes will provide a source of funds for distribution to Eastside’s creditors.
In August Banerjee won judgment in Banerjee (Liquidator), in the matter of Eastside Formwork Pty Ltd (in liq) v Stojic (Trial Judgment) [2026] FCA 1140 against Connie Stojic among others in respect of her involvement in the affairs of Eastside and related entities, opening the way for Banerjee to pursue the former English teacher on behalf of Eastside’s creditors, among which is the ATO with debts of more than $6 million and possibly in excess of $14 million.
But Mrs Stojic isn’t going down without a fight, advising the court this week of her intent to appeal the judgment of Justice Jane Needham and seeking to amend an undertaking covering the South Coogee property so she can refinance an existing mortgage and raise funds to pay for her appeal.
As reported in iNO earlier this week Banerjee was dead against the refinance, and put before the court evidence of Ms Stojic’s significant financial capacities as an argument for the court to refuse any amendment. The Westburn Advisory principal asked the court to impose freezing orders.
Among the resources Ms Stojic is alleged to have recourse to is an undertaking from Dane Stojic to pay the family’s ongoing living expenses.
This piqued iNO’s interest because until September last year Dane Stojic was an undischarged bankrupt. But as the court heard, that didn’t mean he didn’t have any money.
Dane Stojic it turns out received a payment via Workers Compensation in the wake of an accident.
As such funds are by law beyond the reach of a bankruptcy trustee, Dane can apparently afford to keep the family afloat while Connie draws down on equity Banerjee’s desperate to see preserved to pay for her appeal.
On Tuesday Banerjee’s legal team told Justice Needham that Dane had loaned his wife $50,000 and then a further $19,000 in August and that in total he’d loaned his wife $1.7 million. The court also heard that Connie drives a leased vehicle, payments for which are met by Dane.
In seeking to win from the court a carve out for non-legal expenses from any refinance Stojic’s counsel reminder her honour that the funds were loans and there was no guarantee Dane would continue to fund his wife.
But her honour, who’d been distinctly unimpressed with Connie Stojic’s answers during cross examination, was unmoved, ordering that the undertaking could be amended to allow for a refinance but that only a set amount could be set aside to fund the appeal.
We asked Dane’s former trustee in bankruptcy Robert Kite how he came to be referred the appointment and whether Dane’s creditors ever saw a cent or whether he collected anything from Dane to fund his own remuneration and expenses or if he received an indemnity. Kite declined to answer.
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