***Day 4 -Committal Hearing*** 18th,19,20th March 2013***

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I just thought I'd do a summary of the tweets from this arvo - better late than never!

Donna Field‏@Donna_Field
Kelly Beckett: GBC wasn't meeting debt repayments. Real estate entity was in financial distress #badenclay

Donna Field‏@Donna_Field
Kelly Beckett: more than 300 k borrowed from family and friends #badenclay

Kate Kyriacou‏@KateKyriacou
''There were definitely indicators he was in financial distress.'' - financial investigator Kelly Beckett. #badenclay

Kate Kyriacou‏@KateKyriacou
Gerard Baden-Clay owed $1,179,000 to third parties. Was missing repayments on some debts for two months before Allison disappeared.

Kate Kyriacou‏@KateKyriacou
Defence says Baden-Clay was solvent as at April 2012 and, on paper, had a positive balance sheet.

Kate Kyriacou‏@KateKyriacou
That's it for today. Back tomorrow at 9.30am. #badenclay

Donna Field‏@Donna_Field
Baden-Clay wraps up for today - my story on @abcnews at 7 #badenclay

Peter Overton‏@pete_overton
Shock revelations that Gerard Baden Clay had multiple mistresses. We will cover this story at 6PM in @9NewsSyd. #9NEWSat6
(had to laugh at this one - shock?)
 
marlywings said:
Kate Kyriacou ‏@KateKyriacou
Defence says Baden-Clay was solvent as at April 2012 and, on paper, had a positive balance sheet.
Click to expand...

While "balancing books" isn't a strong point for me, to say GBC was in credit on paper possibly means that some of the debts haven't "solidified". In the sense that, the QPS and DPP are looking at overall picture.
Remember how the committal itself was put off due to insufficient time to examine all the financial records? It was probably a fairly complex trail.
I'm supposing that in terms of the business, GBC's companies/ trusts made a lot of the borrowings, but that he (and maybe ABC and others) were required to give personal guarantees. If those debts were not repaid on time, then he (and they) face making up the losses, but until they are sued and a judgement obtained against them personally, then those debts are potential more than actual. But still a possible strong motive.
Similarly whatever was "put up" as security for the loans, had to have some value but might have been based on book values and projected income, erk about now my brain starts caving in....
But it seems reasonable for GBC to have had a tiny bit squirreled away for a rainy day just in case, otherwise its simply a matter that not all the chickens had come to roost, financially, but he was still buried in $1.something million of their poo
 
alioop said:
Paragraph 193 of Kelly Becketts statement says their overall position at the date of Allisons death was approx $58,300 in debit (insolvency) which included money not available such as their super. From what the reports have been suggesting today, they talk about an overall credit of approx $74,000 ( solvency) so I don't know why the difference. It doesn't really matter anyway, whether they were insolvent or slightly solvent, they were in extreme financial distress.
Click to expand...

That's a really good point. Financial distress comes in many forms. Davis would have a hard time convincing a jury that GBC's financial state wasn't causing him a great deal of worry.
 
IMOO, TM's back-door disappearance wouldn't have been so dramatic as witness protection or threats.
She was probably well aware that a fair contingent of press had gathered in the court grounds awaiting her exit as most people do, from the court, and wanted to dodge it (who wouldn't in her shoes?).
People who have been to the Qld court complex know that you need to go through a security process at the front entrance (guards, passing thru ex-ray things) so I am just assuming the "back doors" are in fact locked solid and only openable from the inside to people with a code to allow for prisoners coming in. Or maybe a few staff sneaking out for a smoko (sorry no that's a joke).
So if they took pity on her request for a bit of privacy, it would have needed people with a code to open the back doors, and they may well have a security system that requires the exit to be supervised to ensure no rabble get in at the same time. Hence the presence of "police escort" or more likely court security guards.
 
DrWatson said:
So are the defence now saying that the forensic accountant is wrong, and out of whack by a cool million and a half, or thereabouts?

Wow - that's a bit of a long stretch, isn't it? Is this the desperate new line to replace the suicide defence? Or is this just trying to prove that the forensic accountant hasn't got a clue? But the defence do?
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I wonder who they got to interpret the findings for the accounts. Sounds like it could have been GBC himself lol
 
Has there been anything about the consequences of GBC missing credit card repayments? Isn't there a 2 or 3 month window before a default is recorded and possible legal action taken? Surely this would have been making him nervous too.
 
Makara said:
I had a strong feeling that Davis would attack the forensic accountant's evidence with gusto. It is plainly clear to me that Mr. Davis does not understand all of those numbers put to him in evidence. The forensic accountant's hard work has Mr. Davis totally bamboozled. Toni McHugh had already stated that GBC had told her he was in debt for over $1million. Take that one on board Mr. Davis.


My opinion only and not that of Websleuths.
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He HAD to tell TM that to fit with "I can't afford a divorce". I don't doubt in that case he was telling the truth for once.
 
Makara said:
I had a strong feeling that Davis would attack the forensic accountant's evidence with gusto. It is plainly clear to me that Mr. Davis does not understand all of those numbers put to him in evidence. The forensic accountant's hard work has Mr. Davis totally bamboozled. Toni McHugh had already stated that GBC had told her he was in debt for over $1million. Take that one on board Mr. Davis.


My opinion only and not that of Websleuths.
Click to expand...

Makara, I think you've hit the nail on the head here. Regardless of the arguing between the accountant and Davis over how much debt he is in, GBC's PERCEPTION of how much debt he was in would be the most reliable contributor to his state of mind. And he believed he was in debt over $1 million.
 
Ms Beckett said she had analysed the "financial position" of Baden-Clay, his wife Allison and related companies on April 20, 2012.

She said the assets outweighed the liabilities, with a net positive equity at $74,663.

But Ms Beckett said they could not be liquidated easily and was dependent on valuation of the assets.

She said her assessment included purchase costs of motor vehicles, life insurance policies, managed funds, share portfolios, savings accounts and a rent roll.

Ms Beckett said a Paradise Point property was assessed as worth $570,000, via a bank valuation during refinancing in 2008.

But she said she was aware the properly sold for $440,000 in September, 2012

http://www.sunshinecoastdaily.com.au/news/mistress-tells-court-baden-clays-lie-low-request/1795712/
 
Marly, when with the General Discussion thread be unlocked?
 
I have a couple of niggling thoughts.. sorry if this has all been thrashed out in a previous thread. Allison must have known things were financially dire, yet she had her hair done. Did she know that TM would be there & wanted to look her best, planning to attend with another member of staff from a struggling business maybe for moral support?
The other was why were her clothes so large? Were they actually Allison's? Or where they just easier for someone to dress her in?
 
dont worry. Mr Davis hasnt had a chance to get to the bit where Gerards 1.4 mill loans from third parties.. that is unsecured loans, without collaterall ALL fall due on Jul1. ... and its now April.
 
Onlyone said:
I have a couple of niggling thoughts.. sorry if this has all been thrashed out in a previous thread. Allison must have known things were financially dire, yet she had her hair done. Did she know that TM would be there & wanted to look her best, planning to attend with another member of staff from a struggling business maybe for moral support?
The other was why were her clothes so large? Were they actually Allison's? Or where they just easier for someone to dress her in?
Click to expand...

The hair 'do' was a freebie to make up for a previous botched attempt ( me I just find another hairdresser )
Perhaps the work out clothes were her MIL's <modsnip>
 
Onlyone said:
I have a couple of niggling thoughts.. sorry if this has all been thrashed out in a previous thread. Allison must have known things were financially dire, yet she had her hair done. Did she know that TM would be there & wanted to look her best, planning to attend with another member of staff from a struggling business maybe for moral support?
The other was why were her clothes so large? Were they actually Allison's? Or where they just easier for someone to dress her in?
Click to expand...

Hi Onlyone, Allison had her hair done free of charge. It was a fix-up from a previous appointment.
 
Also today, the court was told prosecutors no longer wished to call the Baden-Clays' marriage counsellor to give evidence. Her employer, Relationships Australia, had objected to her testifying and also to the tendering of documents relating to the counselling sessions.

Prosecutor Danny Boyle said the issues relating to her evidence would not be argued "at this stage".

The committal hearing continues.
Click to expand...

http://www.theaustralian.com.au/new...ress-tells-court/story-e6frg6nf-1226599736233
 
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