Found Deceased Australia - Melissa Caddick, 49, Sydney, NSW, 12 Nov 2020 #7

[SouthAussie]

Yes it appears this barrister hired by the G's is a top ranked in this field.
Sera Mirzabegian | Eleven Wentworth

Lawyer of the Year two years ago. She will likely get Melissa's family the best outcome possible. Which will likely detract from the returns that the investors will receive. No wonder some are getting riled. They likely cannot afford a top barrister to represent them.

 

[stormbird]

Melissa Caddick's parents face being evicted from own home after giving their daughter $1million | Daily Mail Online
New article

From SLouTh's link:

"In contrast to [the company] Maliver, Ms Caddick has substantial assets and few creditors.
But a tiny list of creditors was 'completely unsurprising' when you're running a Ponzi scheme and no legitimate business, Mr Assaf [Farid Assaf SC, for ASIC] contended.
'All you need is a computer, a printer and some paper,' he said."
BBM

- Melissa Caddick's elderly parents face being evicted from their own home as the conwoman's victims desperately try to reclaim the $23million she swindled from them, Daily Mail Australia, 01 July 2021

 

[SLouTh]

New article here with some interesting points-
ASIC bid to recoup Melissa Caddick funds complicated by her uncertain fate, court told (news.com.au)
Article RSBM

Missing fraudster Melissa Caddick’s properties and luxury possessions should not be sold off to pay back money she allegedly stole until a coroner has ruled she is dead, a court has heard.

Ms Caddick has no legal representative but a court-appointed contradictor, barrister Nicholas Bender, said on Wednesday it appeared ASIC were running the case as if she was alive.

“On the assumption that (Ms Caddick) is in fact deceased it would follow from that fact there should be no proceedings against her at all because she ceases to be a natural person,” he said.

Mr Bender sought orders preventing receivers “selling any of her property” until it was concluded that she was dead.

ASIC wants receivers appointed to Ms Caddick’s personal assets – including her Dover Heights mansion – and Maliver to be wound up, with the resultant funds to be pooled for investors.

But Mr Bender argued liquidators should instead be appointed to pore over and investigate the finances of Maliver, while the parties await the outcome of a coronial inquest.

“That could lead to an efficient way of returning money to investors,” he said.

Mr Assaf said even if she is believed to be dead, a trustee could be prevented from stepping in to carve up her assets as law requires a date of death to determine the start of a term of bankruptcy.


More at above link

 

[SLouTh]

Just for interest, a little about the Contradictor.... The Barrister appointed for MC in her absence ........
**** As per affidavits publicly available - The services of the Contradictor - Mr Bender's services are being paid for by ASIC.

Nicholas is featured in the 2021 edition of Best Lawyers for litigation. He has also been listed in Doyle's Guide (Leading Commercial Litigation and Dispute Resolution Barristers) in each year from 2017 to 2021 and Doyle's Guide (Leading Insolvency and Reconstruction Barristers) from 2015 to 2017.
Nicholas Bender | Barristers | Banco Chambers


Interesting to note that Mr Bender and the Barrister for ASIC, Farid Assaf SC, are from the same Chambers..... although definitely opposed to each other in this case...
Barristers | Banco Chambers

 

[Trooper]

Just for interest, a little about the Contradictor.... The Barrister appointed for MC in her absence ........
**** As per affidavits publicly available - The services of the Contradictor - Mr Bender's services are being paid for by ASIC.

Nicholas is featured in the 2021 edition of Best Lawyers for litigation. He has also been listed in Doyle's Guide (Leading Commercial Litigation and Dispute Resolution Barristers) in each year from 2017 to 2021 and Doyle's Guide (Leading Insolvency and Reconstruction Barristers) from 2015 to 2017.
Nicholas Bender | Barristers | Banco Chambers


Interesting to note that Mr Bender and the Barrister for ASIC, Farid Assaf SC, are from the same Chambers..... although definitely opposed to each other in this case...
Barristers | Banco Chambers

There was never, ever the possibility of a civil ending to this entire matter. It was always going to be the Grimleys versus the 'Investors'. The point about ASIC 'running the case as if she were alive' is because the collateral damage ie. the Investors, and the family actually are still alive and kicking in the court.

I am very curious as to the costs borne by the Grimleys for their very expensive barrister, I can't find any record of her firm ever taking on a no win, no fee suit at all. So I don't think this one is either.

It will be a real close call which way Judge Markovic swings, and I cannot see any area where she would divvy things up equally, either, it will be 90% to the investors, OR 90% to the Grimleys, and I think the Investors will be the winners, here. IMO.

Considering all these people willingly, voluntarily, under their own steam gave their money to Melissa, this includes the Grimleys, they all have an equal footing , in that respect, but the damages to each will be measured quite differently.

 

[SLouTh]

I am very curious as to the costs borne by the Grimleys for their very expensive barrister, I can't find any record of her firm ever taking on a no win, no fee suit at all. So I don't think this one is either.

I am assuming that AG is assisting with costs?? Or possibly other family members??

Edit to add - AG's previous legal expenses (representing MC) were paid out of MC's estate, before the money ran out ...

 

[SLouTh]

'All you need is a computer, a printer and some paper,' he said."
BBM

Scary isn't it Stormy.......

One thing that seems odd to me is that the cars belong to Maliver...., but nothing else does... (except the computer and printer ...)
Her car, I get, as a "company car", but the AUDI???? And why own them outright? When she didn't own the properties?
Obviously a tax deduction ...... but what other logic is in this decision?

 

[stormbird]

Scary isn't it Stormy.......

One thing that seems odd to me is that the cars belong to Maliver...., but nothing else does... (except the computer and printer ...)
Her car, I get, as a "company car", but the AUDI???? And why own them outright? When she didn't own the properties?
Obviously a tax deduction ...... but what other logic is in this decision?

Maybe it's just a great car to drive? No logic required, just get in and away you go?

Based on what was reported from the court, Melissa only set up Maliver to cover what she was really doing (running a ponzi scheme which had reportedly started a year before). I don't understand how that works, but if it wasn't a real business I'm guessing it wouldn't have required her to make real business decisions about leasing versus buying.

I can't understand what she was about or what she wanted. She doesn't look happy to me in her rich things and I find it hard to believe she kept up her pretences and cons for years only in order to buy more stuff and go on holidays. That doesn't seem like enough motivation.

 

[Estelle]

Maybe it's just a great car to drive? No logic required, just get in and away you go?

Based on what was reported from the court, Melissa only set up Maliver to cover what she was really doing (running a ponzi scheme which had reportedly started a year before). I don't understand how that works, but if it wasn't a real business I'm guessing it wouldn't have required her to make real business decisions about leasing versus buying.

I can't understand what she was about or what she wanted. She doesn't look happy to me in her rich things and I find it hard to believe she kept up her pretences and cons for years only in order to buy more stuff and go on holidays. That doesn't seem like enough motivation.

I agree but even when trying to add up what she has spent on her "stuff" in her bank accounts, there is still a lot unaccounted for. But what I cannot understand is if investors paid all moneys into a Maliver or Caddick account, why can't they account for the outgoings?

 

[SLouTh]

I agree but even when trying to add up what she has spent on her "stuff" in her bank accounts, there is still a lot unaccounted for. But what I cannot understand is if investors paid all moneys into a Maliver or Caddick account, why can't they account for the outgoings?

Unless they do know.... and they are just not saying due to an impending or ongoing investigation???
Or were they cash withdrawals??? But that is an almighty amount of cash to withdraw.....
Totally agree Estelle..... there must be some outgoing figures somewhere.....

 

[Sophist]

Hi Sophist,

Sadly I missed that part of the court proceedings, but the Grimley's Barrister is scheduled for reply again tomorrow.....

I can only go on what the newspaper reports are saying...... for this particular matter...

There is this quote from the DT .....

Edward and Barbara Grimley believe they have a 37 per cent interest in the luxury penthouse along with the right to live there as long as they want, it was revealed in court.
Melissa Caddick’s parents may lose Edgecliff home purchased in her name | Daily Telegraph

And this from the SMH

Appearing remotely in the Federal Court in Sydney on Wednesday, barrister Sera Mirzabegian, acting for Ms Caddick’s parents Ted and Barbara Grimley, said the couple’s “position is that in exchange for contributing more than $1 million towards [the Edgecliff property] ... they obtained at least a 37 per cent equitable interest in the property and the right to live in” it. Ms Caddick bought the penthouse in 2016 for $2.55 million.

Ms Mirzabegian said the receivers were seeking to “redact” or “suppress” the value of the Grimleys’ life estate in the property from a property valuation. A life estate refers to an interest in property that ends when a person dies.

The Grimleys were not the owners of the property on paper but have said they had a written agreement with their daughter that they would have a life tenancy.

Ms Mirzabegian said the property would “have to go to market” and there was nothing confidential about the value of the life interest, which would be less than the price a buyer would pay for the apartment. But Justice Brigitte Markovic said a non-publication order over that information was necessary to prevent prejudice to the proper administration of justice.
Melissa Caddick’s parents stake claim in $2.5 million Edgecliff penthouse (smh.com.au)

Hopefully this helps explain it better?

Thanks SLouTh

 

[Estelle]

Last Friday afternoon, we learnt that Gleeson's cap was supposed to be $70,000 but his costs amounted to $188,000 incl GST. They said that everything is currently stored including the two cars worth $480,000. So is AK still there with OC? Do they have any furniture left? I guess not. They may as well go ahead with this now and sell Dover Heights but deal with the parents' claim after the inquest. Would that work?

 

[Sophist]

Lawyer of the Year two years ago. She will likely get Melissa's family the best outcome possible. Which will likely detract from the returns that the investors will receive. No wonder some are getting riled. They likely cannot afford a top barrister to represent them.

Wondering how they can afford a top barrister

 

[SouthAussie]

Maybe it's just a great car to drive? No logic required, just get in and away you go?

There would need to be some logic for tax filings.

I don't know what that Audi is worth, but there is a 33% tax rate on luxury cars. This was implemented years ago, to try to make companies think twice before claiming luxury cars as business cars.

There is also the issue of claiming two cars when there was (apparently) only one driver in the company. Unless AK was perhaps listed as an employee of Maliver.

Luxury car tax rate and thresholds

 

[drsleuth]

New details emerge in case of WA's quarter of a billion dollar alleged Ponzi operation

An alleged Ponzi scheme operated by a failed Perth businessman ran for more than 16 years before being shut down by the corporate watchdog, with hundreds of millions of dollars moved through personal bank accounts.
Chris Marco, 63, is the lone figure at the centre of one of the biggest financial scandals in Australia.

The scale of the operation defies belief, with as many as 340 investors sinking more than a quarter of a billion dollars into Mr Marco's supposedly elite investment program.

 

[they'll get you]

SWINDLE OF THE CENTURY?
Calling someone a con artist often implies a degree of expertise, even admiration, for what is in fact despicable crime.

It’s not art, it’s theft, and it takes a particularly heartless and greedy person to do it. Sydney’s Melissa Caddick was a perfect example. She took more than $25 million from her own family and friends, who lost everything. She’s now presumed dead, so discovering why she acted so shamefully will remain unknown forever.

Caddick though is starting to look like a cheap pretender compared to Chris Marco. Over 20 years he has taken a quarter of a billion dollars from investors, and now most of their money is missing. But Marco is very much alive, and on 60 MINUTES, Liam Bartlett tracks him down to find out where the millions all went.
Making Australia COVID safe and conman CHRIS MARCO - This week on 60 MINUTES

 

[Estelle]

I must say that since M's parents employed Sera Mirzabegian, things seem to be favoring the parents and not the investors.
Do you get that feeling?

Sera's qualifications and experience is impressive.

Sera Mirzabegian
Date of admission to the Bar 2006
Areas of practice
Sera practises primarily in commercial, regulatory and class action litigation.
Her specific practice areas include:

• Anti-money laundering and counter-terrorism financing law
• Class actions
• Commercial law
• Commissions of Inquiry
• Corporations and insolvency
• Equity
• Financial services including superannuation
• Trade practices and competition law

Background: Sera has been consistently recognised by Doyle’s Guide as one of the ‘Leading Commercial Litigation and Dispute Resolution Junior Counsel’ in Australia. In 2019, she was also named by Best Lawyers as the ‘Lawyer of the Year’ in class actions in Sydney. She has served as a member of the New South Wales Bar Council and as Secretary of the Commercial Law Section of the New South Wales Bar. Sera graduated from the University of Sydney with a Master’s degree in International Law (2008) and Bachelor’s degrees in Law (2001) and Economics (Social Sciences) (1999). She received First Class Honours in Law on merit and was awarded several academic prizes and scholarships. In 2006, she received the Blashki Award for the highest marks in the NSW Bar exams. She is a published legal author and has lectured at the University of New South Wales, the University of Sydney and Macquarie University. Before coming to the Bar, Sera was a litigation solicitor at Herbert Smith Freehills and Gilbert+Tobin. She was admitted as a solicitor in 2002.

Qualifications B Ec (Soc Sc)/LLB (Hons I) (Syd) and M Int Law (Syd)

Sera Mirzabegian | Eleven Wentworth

 

[Redrunner]

I must say that since M's parents employed Sera Mirzabegian, things seem to be favoring the parents and not the investors.
Do you get that feeling?

Sera's qualifications and experience is impressive.

Sera Mirzabegian
Date of admission to the Bar 2006
Areas of practice
Sera practises primarily in commercial, regulatory and class action litigation.
Her specific practice areas include:

• Anti-money laundering and counter-terrorism financing law
• Class actions
• Commercial law
• Commissions of Inquiry
• Corporations and insolvency
• Equity
• Financial services including superannuation
• Trade practices and competition law

Background: Sera has been consistently recognised by Doyle’s Guide as one of the ‘Leading Commercial Litigation and Dispute Resolution Junior Counsel’ in Australia. In 2019, she was also named by Best Lawyers as the ‘Lawyer of the Year’ in class actions in Sydney. She has served as a member of the New South Wales Bar Council and as Secretary of the Commercial Law Section of the New South Wales Bar. Sera graduated from the University of Sydney with a Master’s degree in International Law (2008) and Bachelor’s degrees in Law (2001) and Economics (Social Sciences) (1999). She received First Class Honours in Law on merit and was awarded several academic prizes and scholarships. In 2006, she received the Blashki Award for the highest marks in the NSW Bar exams. She is a published legal author and has lectured at the University of New South Wales, the University of Sydney and Macquarie University. Before coming to the Bar, Sera was a litigation solicitor at Herbert Smith Freehills and Gilbert+Tobin. She was admitted as a solicitor in 2002.

Qualifications B Ec (Soc Sc)/LLB (Hons I) (Syd) and M Int Law (Syd)

Sera Mirzabegian | Eleven Wentworth

While we are spruiking the Grimleys emplpying Ms Mirzabegians, lets not forget the not too shabby Mr Farid Assaf SC and Mr Nicholas Bender, both from Banco Chambers.
Farid Assaf SC | Barristers | Banco Chambers

Nicholas Bender | Barristers | Banco Chambers

 

[JLZ]

While we are spruiking the Grimleys emplpying Ms Mirzabegians, lets not forget the not too shabby Mr Farid Assaf SC and Mr Nicholas Bender, both from Banco Chambers.
Farid Assaf SC | Barristers | Banco Chambers

Nicholas Bender | Barristers | Banco Chambers

Farid Assaf is the only SC and therefore the most expensive among the three.

 

[SouthAussie]

I must say that since M's parents employed Sera Mirzabegian, things seem to be favoring the parents and not the investors.
Do you get that feeling?

Sera's qualifications and experience is impressive.

Sera Mirzabegian
Date of admission to the Bar 2006
Areas of practice
Sera practises primarily in commercial, regulatory and class action litigation.
Her specific practice areas include:

• Anti-money laundering and counter-terrorism financing law
• Class actions
• Commercial law
• Commissions of Inquiry
• Corporations and insolvency
• Equity
• Financial services including superannuation
• Trade practices and competition law

Background: Sera has been consistently recognised by Doyle’s Guide as one of the ‘Leading Commercial Litigation and Dispute Resolution Junior Counsel’ in Australia. In 2019, she was also named by Best Lawyers as the ‘Lawyer of the Year’ in class actions in Sydney. She has served as a member of the New South Wales Bar Council and as Secretary of the Commercial Law Section of the New South Wales Bar. Sera graduated from the University of Sydney with a Master’s degree in International Law (2008) and Bachelor’s degrees in Law (2001) and Economics (Social Sciences) (1999). She received First Class Honours in Law on merit and was awarded several academic prizes and scholarships. In 2006, she received the Blashki Award for the highest marks in the NSW Bar exams. She is a published legal author and has lectured at the University of New South Wales, the University of Sydney and Macquarie University. Before coming to the Bar, Sera was a litigation solicitor at Herbert Smith Freehills and Gilbert+Tobin. She was admitted as a solicitor in 2002.

Qualifications B Ec (Soc Sc)/LLB (Hons I) (Syd) and M Int Law (Syd)

Sera Mirzabegian | Eleven Wentworth

Nicholas Bender seems to have particular experience as a lead in class action litigation. As contradictor, he should be able to do enough to balance things out for the investors.

It certainly seems that it is going to be a battle of the barristers. Is Bender going to be paid directly out of investor funds?

I'd like to know who the taxpayer is paying for here. Assaf? Bender?


He has particular experience acting as lead or sole counsel for individual director defendants in class actions and regulatory proceedings, including large and complex cases.
Nicholas Bender | Barristers | Banco Chambers