Brisbane's Courier Mail reports:
Former chief executive of Billabong, Matthew Perrin, who made hundreds of millions of dollars from the Aussie surfwear group, is broke.
Perrin today filed a debtor’s petition with the Insolvency Trustee Service of Australia and placed all his corporate entities under external administration.
Mr Graham Starkey of PA Lucas & Co has been appointed as Mr Perrin’s trustee in bankruptcy.
Once a Gold Coast lawyer, Perrin rode the crest of the Billabong wave, selling his shares and making several hundred of millions as a result.
His slide into bankruptcy was caused by his investments in a property and supermarket group located in Xian and Hunan provinces in China.
