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Bond is out of jail.

Alan Bond, who was sentenced to two and a half years in prison after he was found guilty of corporate misconduct for his role in the bailout of a Perth investment bank, has had his ruling overturned by an Australian appeals court.

Bond is the former chairman of his flagship company, Bond Corp. Holdings, that spanned international brewing and media fields.

A three-judge panel found overruled a lower court's decision in May, and freed Bond on bail until a retrial is scheduled, according to the Wall Street Journal.

The court's decision was based upon a witness who claimed that evidence given against him during his trial was false.

According to analysts, a victory in Bond's retrial would be a blow to Australia's securities regulators, who called the conviction a step toward "restoring Australia's tarnished reputation in international capital markets. "
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Title Annotation:Bond Corporation Holdings Ltd. former chairman Alan Bond
Publication:Modern Brewery Age
Date:Sep 7, 1992
Words:139
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