Despite having been appointed almost 2 months ago, DW Advisory has not realised 90% by value of the sale of the Bonny Glen partnership properties (according to title searches of 14 November 2019) auctioned in Orange on 24 July 2019.
“NO CERTIFICATE OF TITLE HAS ISSUED FOR THE CURRENT EDITION OF THIS FOLIO. CONTROL OF THE RIGHT TO DEAL IS HELD BY WESTPAC BANKING CORPORATION.”
We further understand there is an allegation that the liquidator has failed to collect 1 or more years rent from Bernard’s lessee company? Whilst there may be sound business reason for not collecting this rent from Bernard’s company (?), DCP sincerely hope the interests of all creditors (not just interests associated with Bernard Hall) are being protected by DW Advisory in their trusted role as liquidator? We understand complaints have been made about aspects of the liquidator’s conduct to date to bodies including ASIC and other regulators?
It is understood that a notice to complete has been served upon Bernard requiring him or his purchasing entities to complete the settlement of the 4 remaining properties by the close of business on 14 November 2019. The possible ramifications of failing to complete are discussed here.
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Anyone thinking of engaging Hakan in any real estate matter should consider reviewing the official licensing website to check whether Hakan holds a current licence at the time of any transaction contemplated?
Source: https://www.onegov.nsw.gov.au/publicregister/#/publicregister/result (search dated 2 June 2019).