Found Deceased Australia - Melissa Caddick Missing After Australian SIC Raid - Sydney (NSW) - Nov 2020 #9

[JBowie]

Christian Dior has failed in court to keep confidential its dealings with missing fraudster Melissa Caddick, including exactly how much of her money the luxury fashion house has been holding since its big-spending client vanished two years ago.

Dior has been given a fortnight to hand over the money and ordered to provide receivers with a decade’s worth of its financial dealings with Caddick.

. . .

The court was informed that her brother Adam Grimley had abandoned his claims over the estate but that Koletti was maintaining his, including to Caddick’s superannuation.

The ongoing fight over other assets, including an Edgecliff penthouse over which her parents Barb and Ted Grimley have staked a claim, will be back in court on 19 April.

Dior given a fortnight to hand over Melissa Caddick’s money

Luxury fashion house Christian Dior has failed to keep confidential its dealings with the missing fraudster, including how much of her money it has been holding.

www.smh.com.au

 

[IminSyd]

Mink coats, handbags made from rare Burmese pythons, and necklaces festooned with black sapphires and diamonds were among more than 100 high-end possessions of fraudster Melissa Caddick that fetched a total of about $806,000 after three days of auctions.

. . .

This week’s auction results, along with the recent $48,000 artwork auction, will see almost $850,000 returned to investors. [bbm]

Well, not exactly. The receiver's fees will need to be taken out of that. The house sold for (say) $10 million less (say) $4.5 million owing on the mortgage and accrued interest for non-payment, so my estimate is that so far the auctions have grossed (say) $6 million before fees and any tax owing.

Even if a few more million can be clawed back, it's still a long way short of the alleged $30 million stolen from investors.

Buzz over Melissa Caddick’s bling as jewellery, shoes and dresses go under the hammer

Fraudster’s mink coats, handbags fashioned from rare Burmese pythons, and necklaces festooned with black sapphires and diamonds among possessions that fetched about $806,000.

www.smh.com.au

And the lawyers fees will be substantial

 

[JBowie]

The court heard discussions about the fraudster’s contested assets could not be adequately addressed until the inquest into her death was finalised.

Justice Markovic acknowledged the findings were set to be handed down in April next year.

https://www.news.com.au/national/nsw-act/courts-law/christian-dior-ordered-to-reveal-melissa-caddicks-spending-habits/news-story/78ce999cc9865bc79428574f29638c06

 

[Via Marple]

Christian Dior has failed in court to keep confidential its dealings with missing fraudster Melissa Caddick, including exactly how much of her money the luxury fashion house has been holding since its big-spending client vanished two years ago.

Dior has been given a fortnight to hand over the money and ordered to provide receivers with a decade’s worth of its financial dealings with Caddick.

. . .

The court was informed that her brother Adam Grimley had abandoned his claims over the estate but that Koletti was maintaining his, including to Caddick’s superannuation.

The ongoing fight over other assets, including an Edgecliff penthouse over which her parents Barb and Ted Grimley have staked a claim, will be back in court on 19 April.

Dior given a fortnight to hand over Melissa Caddick’s money

Luxury fashion house Christian Dior has failed to keep confidential its dealings with the missing fraudster, including how much of her money it has been holding.

www.smh.com.au

Who would have thought, Dior is acting like a money launderer of sorts to its secret clientele..

 

[JBowie]

Who would have thought, Dior is acting like a money launderer of sorts to its secret clientele..

Interesting possibility.

 

[JBowie]

Luxury fashion house Christian Dior has finally revealed that since the disappearance of their big-spending client two years ago, it has been holding $262,940 of fraudster Melissa Caddick’s funds.

. . .

The refusal of Dior to co-operate with the court-appointed receivers of Caddick’s assets has been detailed in an extraordinary exchange of legal correspondence, which was released by the court on Friday.

. . .

On Monday, the Federal Court rejected Dior’s request for confidentiality and gave it 14 days to hand over the money and ordered Dior to provide the receivers with a decade’s worth of its financial dealings with Caddick. [bbm]

I have to wonder what we may learn from those ten year's worth of dealings. I guess we'll know soon enough.

Dior admits to holding $260k of Melissa Caddick’s stolen funds

Luxury fashion house Christian Dior has revealed that it has been holding $263,000 of fraudster Melissa Caddick’s funds since the disappearance of their big-spending client two years ago.

www.smh.com.au

 

[Kemug]

Well that's it, no more Christian Dior for me!

 

[SouthAussie]

I don't understand why Dior did not hand over this money two years ago. Perhaps communicating with the receivers saying 'We are holding funds for Ms Caddick, what should we do with them?'

 

[TootsieFootsie]

I don't understand why Dior did not hand over this money two years ago. Perhaps communicating with the receivers saying 'We are holding funds for Ms Caddick, what should we do with them?'

When Dior first appeared in the news re Melissa Caddick, the article made it sound like they were trying to get the money to the receivers. Or at least that's the way the story read to me.


It is really a small amount to risk damaging the reputation of Dior for.

 

[SouthAussie]

When Dior first appeared in the news re Melissa Caddick, the article made it sound like they were trying to get the money to the receivers. Or at least that's the way the story read to me.


It is really a small amount to risk damaging the reputation of Dior for.

Yes. I expect the point the Dior lawyer is trying to make is that they don't hand over their client data without legal instruction. Otherwise they might lose clients. Wanting to (indirectly) assure their clients that their privacy is maintained.

imo

 

[TootsieFootsie]

Yes. I expect the point the Dior lawyer is trying to make is that they don't hand over their client data without legal instruction. Otherwise they might lose clients. Wanting to (indirectly) assure their clients that their privacy is maintained.

imo

Oh yes I see their dilemma.

 

[JBowie]

When Dior first appeared in the news re Melissa Caddick, the article made it sound like they were trying to get the money to the receivers. Or at least that's the way the story read to me.


It is really a small amount to risk damaging the reputation of Dior for.

Yes, the original story was that they had come forward, albeit belatedly. It now seems they had to because of a whistleblower within.

 

[Mr Murphy]

Due to anti money laundering laws, various business including solicitors have to notify government when they hold sums of money for clients in trust. I wonder if this is a way around these laws.....

 

[JBowie]

Melissa Caddick’s Dover Heights home has sold for $9.8 million.

Bruce Gleeson from accountants Jones Partners, the receivers of Melissa Caddick say they consider the sale “a good outcome given the current market conditions.”

. . .

Now Mr Gleeson‘s attention will be focused on the remaining [Edgecliff] property owned by Ms Caddick.


(Koletti told the court in May 2022 that the house was valued between $15 million and $17 million. Valued by whom, I wonder.)

(paywalled)

https://www.dailytelegraph.com.au/breaking-news/melissa-caddicks-dover-heights-home-sells-for-nearly-10-million/news-story/a490e94f1756b21525ad6ba9c8f06cb4

 

[NeverPersonal]

Anthony Koletti reveals what he REALLY thinks happened to his wife

In an exclusive interview with Daily Mail Australia, Anthony Koletti reveals how he's trying to get on with his life two years years after Caddick vanished without a trace.

www.dailymail.co.uk

Melissa Caddick's husband says he knew his wife was dead when police told him they found her severed foot - as he opens up on his new job and the toll being labelled a 'failed DJ' and the conwoman's 'toyboy' has taken on him.

One hell of a sentence lol

 

[they'll get you]

Melissa Caddick’s Dover Heights home has sold for $9.8 million.

Bruce Gleeson from accountants Jones Partners, the receivers of Melissa Caddick say they consider the sale “a good outcome given the current market conditions.”

. . .

Now Mr Gleeson‘s attention will be focused on the remaining [Edgecliff] property owned by Ms Caddick.


(Koletti told the court in May 2022 that the house was valued between $15 million and $17 million. Valued by whom, I wonder.)

(paywalled)

https://www.dailytelegraph.com.au/breaking-news/melissa-caddicks-dover-heights-home-sells-for-nearly-10-million/news-story/a490e94f1756b21525ad6ba9c8f06cb4

Here’s hoping ALL the money goes back to it‘s rightful owners.

Melissa Caddick's luxury Sydney home settles for nearly $10 million

www.9news.com.au

 

[JBowie]

Here’s hoping ALL the money goes back to it‘s rightful owners.

Melissa Caddick's luxury Sydney home settles for nearly $10 million

www.9news.com.au

Won't be all.

Not sure how much will be left after the substantial mortgage (now with compound interest for 18 months or more of non-payment), other bank charges, selling costs and receiver's costs.

 

[JBowie]

Further to my post above (#157):

There are fears profits from Melissa Caddick’s multimillion-dollar assets could be wasted on legal fees after lawyers representing liquidators were given a stern warning about the conwoman’s “dwindling” millions.

. . .

[Federal Court] Justice Markovic said the fund will be “fast dwindling” and didn’t want a “festival of lawyers” who were simply getting paid until the money ran out.

(paywalled)

https://www.dailytelegraph.com.au/breaking-news/judge-issues-warning-to-lawyers-over-melissa-caddicks-dwindling-millions/news-story/a51cb6c01098e60822ac87b2c9e6adf9

 

[SLouTh]

Further to my post above (#157):

There are fears profits from Melissa Caddick’s multimillion-dollar assets could be wasted on legal fees after lawyers representing liquidators were given a stern warning about the conwoman’s “dwindling” millions.

. . .

[Federal Court] Justice Markovic said the fund will be “fast dwindling” and didn’t want a “festival of lawyers” who were simply getting paid until the money ran out.

(paywalled)

https://www.dailytelegraph.com.au/breaking-news/judge-issues-warning-to-lawyers-over-melissa-caddicks-dwindling-millions/news-story/a51cb6c01098e60822ac87b2c9e6adf9

Was just reading the article and there seems to be quite a shortfall….???

The court heard $30 million was invested by the out-of-pocket investors and $23.5 million is still owed.

“The report shows all the tangible assets have been realised other than the Edgecliff property,” Ms Whittaker said.

“Receivers hold $8.8 million plus Edgecliff.”

A rather large amount seems to have been swallowed up in fees etc ???

https://www.dailytelegraph.com.au/breaking-news/judge-issues-warning-to-lawyers-over-melissa-caddicks-dwindling-millions/news-story/a51cb6c01098e60822ac87b2c9e6adf9

 

[JBowie]

A rather large amount seems to have been swallowed up in fees etc ???

Doesn't surprise me. As they saying goes, when lawyers get involved the only winners are the lawyers.

Receivers aren't cheap, either.

IIRC, the mortgage on the Dover Heights place was around $4 million (?) when it was still being paid, so I guess the sale of that place, less all of the accrued and transactional costs, may have only netted a few million.