Palm Beach down one bankrupt thanks to Interpol

Vanessa Morris-Jackson leaving
Federal Magistrates Court.
Photo: SiN Images

IT'S not often the burghers of Palm Beach have Interpol to thank for curtailing their community's recondite colony of bankrupts.

Usually the insolvency trustee's personal insolvency agreements limit bankrupt populations in exclusive suburbs, but this time the world police can take the credit.

And while the restraint is probably temporary, the fact remains that since July, bankrupt British businessman Tony Morris has been prevented from returning to his clifftop mansion on Whale Beach Road thanks to a so-called "red flag" attached to his passport.

The flag's presence is not so surprising. Until recently the UK authorities believed Mr Morris harboured an immoderate passion for the contents of certain British pension funds.


In 2011 he was extradited to the UK to face trial over what's become known as the GP Noble affair.

But the UK's Serious Fraud Office is now wearing a serious frown.

Last month Tony Morris was acquitted of charges of theft and conspiracy to defraud and walked from London's Southwark Crown Court a free man, no doubt with a spring in his step and an anticipatory gleam in his eye as he contemplated a joyous reunion with his sultry missus down under. 

The oversize infinity pool on
Whale Beach Road

Then Interpol's flag spoiled the homecoming plans. At a hearing on August 23, Mrs Vanessa Morris (Jackson) told Federal Magistrate Rolf Driver she doesn’t know why the red flag is on her husband's passport.

She was slightly more certain her husband intended to resume cohabiting though, answering “perhaps” when asked if he would move into the  stunning property she occupies on ritzy Whale Beach Road. 

Mrs Morris had come to court seeking an adjournment after failing to respond to a Notice of Admitted Facts served on her on August 7 by Andrew Wily, her husband's bankruptcy trustee.

Accepting her explanation that both she and her two young children were ill with a gastrointestinal complaint, Magistrate Driver ordered the date for compliance be extended to Friday, August 31.

Various other orders were made, including one requiring Wily to use his best endeavours to secure a completed statement of affairs from the bankrupt Brit. 

And Mrs Morris was granted leave to file and serve on Wily an affidavit authored by her husband. 

No doubt Wily's legal team - headed by Sally Nash and barrister Jock Baird - will be hoping Tony Morris can be cross-examined at some stage. Wily is seeking a swag of assets he believes can be recovered for the benefit of Mr Morris's creditors. 

There's the proceeds from the sale of a property at Tascott on Brisbane Waters to locate, as well as title to be decided over disputed custom jewelry worth many hundreds of thousands of dollars. Wily's also interested in around $3 million provided to Mrs Morris by her husband which she used to trade shares.

Under questioning Mrs Morris said a large parcel of shares in betting firm International All Sports, which were held in her Macquarie Equities account, were sold by someone other than her. She confirmed she received a cheque for the sale proceeds.     

Another with questions for the homebound bankrupt will be NAB. The bank's owed over $5 million for the Whale Beach Road property but has been unwilling to initiate mortgagee-in-possession proceedings against a Mother with two small children, even one who does not contribute to the $30,000 per month mortgage repayments. 

Then there's Pittwater Council, which may wish to discuss with Tony Morris the property's non-compliant infinity pool. 

The thrust of that conversation however will depend on the efforts of LJ Hooker's Palm Beach guru David Edwards, who has been trying to stave off the inevitable outcome of the council's recently-issued demolition notice.

See also: This lady's veto is not for overturning

              
                Mr Wily and Mrs Morris                

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