Friday 13 September 2013

Prentice wins possession after Coshott claims dismissed

The Bunyala Road property of bankrupt
Robert Coshott to be repossessed by Max Prentice.
Photo: SiN Images
BANKRUPTCY trustee Max Prentice has won possession of a rambling property in Bunyala Road, Bellevue Hill valued at up to $4 million.

On Tuesday, Federal Court Judge Robert Buchanan ordered the large residential home vest with Prentice as trustee for sale.

The judge gave the bankrupt, Robert Gilbert Coshott, his wife Ljiljana and their sons James and Michael 42 days to clear out. You can read Coshott V Coshott (2013) here.

The BPS Recovery partner's win, which includes costs, was facilitated by insolvency lawyer Sally Nash. It concludes a relatively short court battle that was preceded by years of litigation between the bankrupt, his former trustee John Burke, and more recently, the bankrupt's son James. 

Burke relinquished the appointment in February this year, leaving the way open for Prentice to attempt to recover a half share of the large home.

Tuesday 3 September 2013

EXCLUSIVE: Fevola bound for bankruptcy court

LOAN sharks and gambling, rehab and debt. No prizes for guessing Brendan Fevola is the subject of this story, the next chapter of which could play out in the bankruptcy courts where the troubled AFL legend is being chased for a relatively minuscule $7,000 debt.

Last month a creditor's petition naming Fevola as respondent debtor was filed in the Queensland registry of the Federal Circuit Court. If the debt isn't settled beforehand, the former sporting superstar could be bankrupted.

According to the petition, Brisbane property developer Luciano Menniti is chasing $7,296.08c, constituting funds he claims he loaned to Fevola in 2010, around the time the beleaguered star was in Brisbane undergoing rehabilitation for depression, as well as alcohol and gambling addiction. SiN sought comment from Fevola's via his manager Marty Pask of Essentially Group but did not receive a response by time of writing.

It was during this period that loan sharks wielding baseball bats allegedly turned up at the offices of Fevola's former managers, Velocity Sports demanding prompt repayment. Sources say some debts were settled swiftly. Other lenders were persuaded to wait.