Solomon Lew

During COVID-19 closures, Premier Investments announced that it would not pay rent on its closed stores and subsequently sought substantial renegotiation of lease terms. A landlord brought proceedings concerning more than 3,5 million dollars in allegedly unpaid rent by Just Group brands.

State of the evidence

Documented

Attribution

Political responsibility

Just Group and Premier Investments were criticised for extending payment terms for some small suppliers to as much as six months during the pandemic. Small Business and Family Enterprise Ombudsman Kate Carnell condemned the practice as contrary to good commercial standards.

State of the evidence

Documented

Premier Investments received tens of millions of dollars in wage subsidies during the pandemic while its profits rose sharply and substantial dividends were paid. Under political and public pressure, the group announced repayment of 15,6 million dollars, representing only part of the assistance received.

State of the evidence

Documented

Attribution

Direct responsibility

The Fair Work Ombudsman confirmed that it was investigating Just Group's compliance with temporary Fair Work Act provisions relating to JobKeeper. Reported union concerns included payment for public holidays and leave entitlements for stood-down employees.

At Premier Investments' 2020 AGM, more than 48 % of eligible votes opposed the remuneration report, triggering a first strike under Australia's "two strikes" system. Criticism notably concerned high executive remuneration and bonuses.

State of the evidence

Documented

Attribution

Direct responsibility

After accumulating a substantial stake in Myer, Lew launched a public campaign to remove several directors, accusing the board of mismanagement. Myer's management condemned the campaign as vindictive and destabilising.

State of the evidence

Documented

Attribution

Directly implicated

Premier Investments, chaired by Solomon Lew, launched a hostile bid for Just Group. The target's board initially recommended rejection, considering the offer too low and excessively conditional, before Premier's increasing shareholding gradually shifted the balance of power.

State of the evidence

Documented

Attribution

Political responsibility

After years of tension over governance and related-party transactions, Solomon Lew conducted an expensive campaign to retain his seat on the Coles Myer board. A majority of shareholders ultimately refused his re-election at the November 2002 AGM.

State of the evidence

Documented

Attribution

Direct responsibility

Coles Myer incurred an undisclosed loss of approximately 18 million dollars in a transaction involving Yannon and Premier Investments, a company controlled by Solomon Lew. The affair, revealed by finance director Philip Bowman, triggered several years of investigation into Lew's knowledge and role.

State of the evidence

Documented

Attribution

Directly implicated

A trust whose beneficiaries belonged to the Lew family acquired a stake in Coles Myer before the shares were transferred to Premier Investments at a profit of approximately 8 million dollars. The affair raised conflict-of-interest and transparency questions while Lew held important positions at Coles Myer.

State of the evidence

Documented

Attribution

Directly implicated