Tuesday, 29 November 2011

The voluminous saga of Mr Donnelly's fees

The view from Surf Circle Road, Tura Beach.
FERRIER Hodgson’s veteran bankruptcy trustee Max Donnelly today instructed his solicitors to execute a writ of possession over the Tura Beach residence of Eugene and Inge Maxwell-Smith, a move that will potentially bring an end to a marathon seven-year battle over unpaid fees.

Max was appointed trustee in bankruptcy to the Maxwell-Smith estate in 2003 after the Jindabyne couple spent years refusing to pay a builder for what they believed were sub-standard renovations to their beachfront retirement bolt hole on Tura Beach's prestigious Surf Circle road.

Wednesday, 23 November 2011

Toppi says Khatanga, Cobbity says Katanga – let's argue over costs

Jonathon Idas
Forbes Dowling's
Erica Bosloper
Photo: Jonathon Idas
Paola Cunningham-Toppi – of the Machiavelli Restaurant Toppis – looks to have wrapped up her lengthy dispute with Cobbity Lodge Stud & Stable over outstanding agistment fees.

The default judgement Cobbity won against Ms Toppi in the Local Court in 2010 for more than $23,762.56 has been set aside. So has the March 22, 2011 bankruptcy notice Cobbity obtained and which Ms Toppi successfully opposed.

Some of the motivation for Cobbity’s seeming change of heart might stem from the difficulty it has had in identifying whether it was the horse Ms Toppi owned that has occupied its ritzy stables without paying its way. 

Friday, 4 November 2011

Liquidation a bitter aftertaste for Colefax

Colefax Chocolates in Ramsay Street
Haberfield Photo SiN Images
ONE of Sydney’s best known chocolate emporiums is in the hands of liquidator Steve Nicols after a winding up order was issued against Colefax Chocolates Pty Ltd.

Colefax owner Lisa Lee, who purchased the business with her husband Peter Lee in 1998, declined to discuss Nicols’ appointment when SiN contacted her.

Nicols had not returned SiN’s call at time of writing.

A search of the ASIC database shows that in March this year a proprietary company called Colefax Chocolates (NSW) Pty Ltd was registered with the corporate regulator.

Contact SiN

The real estate agent, his wife and a tale of cosmeceuticals

Jake Rowe and wife Elizabeth
after their examination Photo: SiN Images
McGRATH real estate agent Jake Rowe and his wife Elizabeth might have got a "great deal" when they paid $10,000 for the trademark of a business turning over $1 million a year but does the discount look as good now they've been dragged into a dispute between Bankwest and a bunch of skin care entrepreneurs?

According to his McGrath online profile, Rowe is no slouch in the realty game, having sold over $500 million worth of property during a 20 year career. He holds the price record for a house and land package in Manly and has his residence where his mouth is, living in sought after Bower Street.

Perhaps emboldened by his success in bricks and mortar, Jake and Elizabeth Rowe purchased the trademark to the Indio cosmeceuticals brand from a company called Industry Only, which was at the time in administration. And that appears to have landed them in the middle of a sticky piece of litigation where the phrase "Pheonix Company" is central to a Supreme Court judgement handed down this year. See the original judgement here

Wednesday, 2 November 2011

Morris mansion to go to auction

The Whale Beach Road property proving hard to sell even at a loss
ANDREW Wily is pushing ahead with the sale of the home of bankrupt Tony Morris.

Raine & Horne Palm Beach is expected to be the agent appointed to sell the Whale Beach Road property, although R&H Palm Beach principal Glenn Lee told SIN this morning he was not aware that his firm had formally received the contract.

Wily is cutting it fine with Christmas approaching but is only too aware of the swelling mortgage, currently around $5.2 million and expanding by $25,000 per month.