Thursday, 31 May 2012

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.

Friday, 18 May 2012

Allco receivers contemplating tilt at Fell

GORDON Fell must be thinking hard about the six days he spent being quizzed by ASIC investigators after the fall of Allco.

Saturday, 12 May 2012

This lady’s veto is not for overturning

The property of bankrupt businessman Tony Morris,
which Andrew Wily can't sell without the consent
of Vanessa Morris.
SHE might be a “single mother on a pension” but she can still marshal top QCs and barristers in defense of her realm.

The lady in question is Vanessa Morris (Jackson), who this week saw off a challenge in the Federal Magistrates Court from Armstrong Wily's Andrew Wily.

If Wily's application had been successful, the Palm Beach mansion Mrs Morris occupies would have been sold without her having any say in the transaction.

Monday, 7 May 2012

Short Memory erased as GE awaits a buyer

The Sea Ray formerly known as Short Memory.
Photo: SiN Images 
IT'S unlikely that Short Memory, a vessel formerly stabled with late marine czar Andrew Short, is far from the recollection of the credit and risk specialists at GE commercial lending.

The finance house repossessed its vessel back in September 2011, a month before Andrew Short Marine went into liquidation.

And since GE recovered the Sea Ray 585, it's been racking up berthing and other fees at the exclusive d'Albora Marina at Cabarita on Sydney Harbour.