Findings of corrupt conduct

Mr Cassidy engaged in corrupt conduct by:

  • misusing confidential information on or about 11 November 2005, which he acquired by reason of his position as chancellor of UNE, to gain advantage for Mr Hendry by informing Mr Hendry that the purchase of the Tattersalls Hotel would be a good investment that Mr Hendry should consider making
  • failing to disclose, at a meeting of the UNE Council Standing Committee on 21 November 2005, that he had a "material interest" in discussions concerning the sale of the hotel that appeared to raise a conflict with the proper performance of his duties because he knew that Mr Hendry, his business partner and friend, was interested in purchasing the hotel
  • failing to disclose to Rob Watt, a director of Services UNE Ltd (which was considering Mr Hendry's tender for the purchase of the hotel), the full nature of his relationship with Mr Hendry
  • failing to disclose, at a meeting of the UNE Council on 8 December 2005, that he had a material interest in matters relating to the sale of the hotel that appeared to raise a conflict of interest with the proper performance of his duties because he knew that Mr Hendry, his business partner and friend, was interested in purchasing the hotel
  • providing misleading information to the UNE Audit and Compliance Committee in his letter of 5 February 2006. The misleading information concerned his role in the decision to sell the Tattersalls Hotel, the true nature of his relationship with Mr Hendry, when Mr Hendry invited him to become a partner in the hotel, and when he decided to become a partner in the hotel.