Collingwood champion Scott Pendlebury’s hopes of recovering an alleged $3 million from his former business partner in court have taken a major hit.
Pendlebury has accused his former manager and long-time friend Jason Sourasis of misappropriating more than $2 million from his investment accounts.
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Pendlebury also alleged Sourasis owed him $300,000 at 50 per cent interest per year — totalling close to $3 million all-up.
But the Herald Sun reports an investigation into a company run by Sourasis involving corporate watchdog ASIC has recommended the company is liquidated as it is “clearly insolvent”.
The report states the company has $80 million in debts and just $224 in the bank.
There are also $120 million in assets but these are primarily loans linked to failed A-League club Western United, meaning their value is “substantially overstated” and Sourasis says they are “largely unrecoverable”.
If the company, Jaszac, is liquidated it would likely mean only the liquidators, the ATO and secured creditor Theodore Andriopoulos (who is owed $32.5 million) would see any money.
Lawyers for the ATO are expected to announce on Thursday whether Western United must immediately pay back $15 million in tax and if the full payment is demanded it could ruin the club’s plans to recover.
Pendlebury has alleged Sourasis transferred $2,148,900 million “without his knowledge” — a large portion of which into an account linked to A-League club Western United.
However Sourasis hit back recently with key documents filed in Victoria’s Supreme Court, containing emails and WhatsApp messages allegedly state the 37-year-old Magpies stalwart was “happy to roll” his investments into the club.
“Awesome! This is elite”, Pendlebury reportedly said in a WhatsApp message replying to investment details.
Other unsecured creditors waiting to learn the fate of Sourasis’ accounts include former North Melbourne player Michael Firrito who is said to be owed almost $1.5 million.
Pendlebury, 38 in January, is set to break the AFL’s all-time games record in 2026.
Sitting on 425 games, if he plays every week he will match Brent Harvey’s record of 432 in the Anzac Day game against Essendon.
He could then break the record on a Thursday night at the MCG against Hawthorn, or the ensuing week on a Saturday night at the MCG against Geelong.
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