The hearings have scrutinised Packer’s (pic) influence over the company, including claims he received frequent trading updates and gave directions despite holding no role at the company, and threatened business associates as he sought, unsuccessfully, to take the company private.
SYDNEY: An Australian regulatory inquiry raised the prospect of cancelling the casino licence of gambling giant Crown Resorts Ltd over alleged corporate governance failures, casting a shadow over the company weeks before a US$1.6bil resort opening.
The lawyer conducting hearings into the allegations also called for restrictions on the influence of Crown’s billionaire founder and 36% owner James Packer, including rethinking Packer’s status as a registered associate and forcing him to sell down his stake.
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