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| Bankrupt artistic agent, Dolores Lavin Image: DLMLA |
In his first report to creditors as Lavin's trustee in bankruptcy, Lucan told creditors: "There are many complex and varied issues affecting Ms Lavin's assets and liabilities." He wasn't kidding.
For a start there seems to be genuine contention in regards to proprietorship of Lavin's apartment in Potts Point. She paid $3.8 million for the Wylde Street pad in 2008 with a mortgage from Westpac. Current valuations are coming in anywhere between $2.058 million and $3.2 million.
For Lavin's creditors, Wylde Street represents real potential, though Lucan has yet to disclose how much, if any of their $5.32 million in claims he's accepted in proofs of debt.
According to Lucan's report, Lavin, who filed for bankruptcy via a debtors petition on February 19, 2015, is sole registered owner on title to the apartment. However Lucan told creditors there are "unregistered dealings on title" that may effect the validity of the mortgage.
These dealings appear to be at odds with orders made in the Supreme Court of NSW in February 2014 and according to Lucan, Lavin neglected to disclose the property's existence in her Statement of Affairs (SoA). But that's perhaps because she doesn't regard herself as sole registered proprietor.
"During an interview with the bankrupt on March 9, 2015, I was advised that the bankrupt was registered on title in her capacity as trustee for the Wylde Family Trust," Lucan said.
"I was provided with documentation relating to a change of trustee. I requested a copy of the trust deed.
"On 16 March 2015 I received a copy of the trust deed accompanying a letter from a solicitor purporting to act for the trustee of the Wylde Street Trust, Billy Buckle Pty Limited.
"I have received information and documentary evidence from a creditor refuting the assertion that the property is held on trust," Lucan claimed.