CNN.com - Australia to pursue Skase assets despite death

A picture of Skase taken in July

By CNN's Grant Holloway and wires

CANBERRA, Australia (CNN) -- The Australian Government will continue to pursue the assets of fugitive businessman Christopher Skase despite his death from cancer, aged 52.

Skase, who had been eluding extradition to Australia from Spain to face criminal charges, died on the island of Majorca about 6am Monday morning, local time, (2200 GMT, Sunday).

Skase was facing more than 60 criminal charges relating to the collapse of his company Qintex in the early 1990s, including the misappropriation of more than $5 million in shareholders funds.

Qintex creditors are still owed about $90 million.

The Australian Government said in a statement it remained committed to recovering this money but "complications associated with recovery of assets in foreign jurisdictions remain".

"Mr Skase's use of overseas tax havens and company structures has made it difficult to track down his assets and their ownership."

Australia's Justice Minister Chris Ellison said Skase's death would not affect bankruptcy proceedings and his estate would be subject to the Bankruptcy Act.

However the criminal proceedings would now be dropped.

Majorca Daily Bulletin editor and family friend Jason Moore on Monday confirmed Skase died with his wife Pixie by his side.

"I can confirm he has died. It was a mixture of everything, emphysema, cancer, the works," Moore told Reuters.

Case highlighted legal weaknesses

Skase fled to Spain in 1991 and managed to elude attempts to extradite him to Australia by claiming he was too ill to travel.

The Skase case became a "cause celebre" in Australia with many believing Skase was faking his illnesses to avoid facing his day in court.

The fugitive businessman was also seen to be thumbing his nose at Australian legal authorities, with his Spanish exile highlighting the inadequacy of extradition laws.

Moore said Skase's family were angry that Australian authorities never believed he was dying of stomach cancer.

"Despite their grief and sorrow, they were angry because so many people in Australia doubted Skase was sick," Moore told the Australian Broadcasting Corporation.

Reuters contributed to this report.