Former Hellyer Mine Leaders Ordered to Repay $8.5 Million After Bankruptcy Ruling
A federal judge rejected Brad Monks and Rodger Johnston's bid to set aside bankruptcy notices, mandating repayment of $8.5 million alleged misappropriated funds.
Federal Judge Kylie Downes dismissed attempts by former Hellyer mine CEO Brad Monks and former chairman Rodger Johnston to nullify bankruptcy notices, ordering them to repay a combined $8.5 million plus interest. The judgment stemmed from 2022 transfers of $2.9 million from a Pieman Resources trust to Monks-related companies Corporate Hustle and Wilson Street Capital, and an additional $2.4 million alleged misappropriation through Hellyer Gold Mines.
The court criticized the pair's conduct as “bordering on bizarre” and lacking a genuine defence, leading to the sequestration of their estates. Monks and Johnston denied wrongdoing and indicated they might appeal. Hellyer Metals entered liquidation after a 2025 stop-work order, and the new owners rebranded the operation as Celestial Pacific, claiming the shutdown caused over $50 million in losses. The mine has since restarted shipments from Burnie Port.
Why it matters
The case underscores legal accountability for former mining executives and the financial exposure of investors in Australian resource projects.
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