Coca Cola chasing Obeids over beverage debt

IT'S one thing to be hauled before an anti-corruption inquiry and grilled like a kebab. It's another thing entirely to fall foul of big beverage. Regrettably for the Obeid clan, it's done both.

Court documents obtained by SiN reveal that Circular Quay Restaurants Pty Limited, the company identified during  hearings of the Independent Commission against Corruption (ICAC) as a front for the Obeid family's waterfront hospitality ventures, has defaulted on a statutory demand for payment issued by Coca Cola Amatil (CCA).

Circular Quay Restaurant's sole director is Paul Maroon, who took over from John Abood, Eddie Obeid's brother-in-law in 2012. Abood however remains as sole shareholder.

As a consequence of the demand default, CCA has initiated wind-up proceedings in the NSW Supreme Court with a hearing set for December 10. 

If the Obeid-controlled company doesn't produce the roughly $108,000 claimed by CCA, any liquidator subsequently appointed will potentially control a suite of exceptionally valuable and controversial harbour foreshore leases. 

They were renewed for a period of 10 years in 2009 but may automatically terminate if the lessee is liquidated. Time will tell.

According to court documents CCA is being represented by Emanueli Oliveri of Oliveri Lawyers. Ben Sewell of Sewell & Kettle is handling the matter for Circular Quay Restaurants Pty Limited.

Email SiN

Council moves to sequester Obeid estate

RATEPAYERS frustrated by moribund local government will be impressed by the speed with which City of Sydney Council has moved to bankrupt Moses Edward Obeid.

Obeid downgrade imminent as bankruptcy stay stalls

Moses Obeid. Photo Optus Zoo

THE woes of Moses just keep mounting. Already appealing a Supreme Court judgement which found he owes Sydney City Council more than $12 million, Moses Edward Obeid yesterday failed to set aside or delay the execution of a bankruptcy notice issued by the Official Receiver.

And Federal Magistrate Kenneth Raphael didn't mince words.

"I am of the view that it would not be appropriate to extend time for compliance with the bankruptcy notice until the determination of the appeal," he said.