Former One.Tel executives Jodee Rich, Brad Keeling and Mark Silbermann have had restrictions slapped on travel as well as assets in excess of AU$45 million frozen, in court orders that extend last week's interim measures.
"Today's undertakings impose extensive restraint on the disposal of assets by Messrs Rich, Keeling and Silbermann," Australian Securities and Investment Commission chairman David Knott said in a statement.
"They have extended the scope of the interim orders obtained from the court last Friday, with appropriate variations, and cover assets which ASIC estimates are worth in excess of AU$45 million," Knott added.
Rich, Keeling and Silbermann have undertaken not to leave the country without giving ASIC seven days notice in writing, a statement of the purpose of the trip and a copy of the proposed itinerary.
The travel restrictions mean that ASIC will be able to maintain access with all three parties as its investigations into One.Tel's collapse continue, the commission said.
"These undertakings have the force of court sanction and are a valuable precaution to protect creditor interests while ASIC's investigations continue," it added.
An undertaking was also provided by Rich's wife, which will also see the assets recently transferred to her by her husband frozen.
However, ASIC has agreed not to seek the freezing of the assets of Beaulieu Holdings or Nicolet Long, Rich's sister, after receiving undertakings freezing the assets of companies of which she is a director.
"The proceedings against them have been discontinued and dismissed respectively," ASIC said.
The undertakings have been given until 30 September 2001 and the matter will return to court on 24 September 2001.
