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?
Further to our class action potential claimants newsletter of late last week, we can now advise the following (also see our video) that, according to the attached title searches:
WCMBF Super Pty Ltd is bidder 23 from the auction held on 24 July 2019 in Orange.
The shareholders and members of WCMBF Super at Bernard and Fiona Hall.
Presuming WCMBF Super is the trustee of a super fund, it is assumed that its members are also Bernard and Fiona Hall who are in fact ‘trustees’ of funds within WCMBF.
As bidder 23, WCMBF bid the following sums:
Melrose orchard, 253 Nancarrow Lane – bid $2.1m
Brooklyn orchard, 135 Nancarrow Lane – bid $800,000
The identity of the purchaser, seemingly being a superfund, suggests the purchases were not intended to be debt financed – super funds find it difficult to borrow funds even mortgages.
The failure of Bernard Hall’s trustee company to purchase those properties, after some 115 days being available to them to raise finances, which it was contracted to purchase suggests things are not good in the Hall camp ….
With:
4 related companies in liquidation,
a litigation war between Bernard and his family,
the failure to complete 4 out of 5 contracts* (with a $740,000 deposit seemingly at risk),
with a litigant seeking a judgment in the sum of around $620,000 and
other unknown issues under the surface,
suppliers and customers of Bernard’s company Caernarvon Cherry Pty Ltd, perhaps justifiably, may well have concerns about whether Caernarvon really is a going concern and long-term partner?
More detailed analysis will follow re what the above means (or may mean) to proposed class action participants.
More detailed information on the Hall’s is available on our webpages:
It seems a key assumption by Bernard Hall may be in error. Bernard is quoted by the Central Western Daily as indicating a belief that he only needed to find the ‘other half’ of the equity he didn’t presently own in the Bonny Glen properties.
Bernard Hall – when $8m means $4m
More than 106 days after the auction (as at 8 November 2019), Bernard and his company’s have failed to complete the purchase of 4 of the 5 Bonny Glen properties he bid to purchase at a cost of $8.15m.
In early November 2019, a notice to complete under those 4 incomplete contracts has been issued upon Bernard Hall making completion, at a final price of about $7.4m, time being of the essence, essential by the close of business on 14 November 2019. As at the close of business on that day (yesterday), Bernard’s purchasing companies had failed to complete.
Despite this, it is believed that Bernard cannot simply transfer those interests to the purchasing vehicles, he had to complete the purchase contracts (it is believed) hence the notices to complete.
It would appear from Bernard’s quotes (see article above) he believed he could merely just pay a top up sum to buy out his brother and parents from the properties? Did his Nuffield Scholar wife also hold this belief?
Bernard (with Fiona) is a joint shareholder and director of Caernarvon Cherry Pty Ltd and other related companies.
The family tree of the Bonny Glen and Hall family/s is below:
Hall family tree of businesses
If you have any comments or information about Bernard & Fiona Hall, we’d love to hear from you including any documents using our instant chat, the below form or by phone on 1300-327123.
To contact us with any tip-offs, files or information – please use the instant chat tools or form below:
Caernarvon, much to the distress of Bernard’s former partner in Bonny Glen, Tim Hall, holds a supply agreement for apples to Woolworths, yet Tim had no financial interest in Caernarvon.
Caernarvon, was able, at least theoretically, to take a clip of Bonny Glen’s (Tim & Bernard’s) apple sales to Woolworths without having to compensate Tim. Perhaps this was a source of angst between the brothers and led to the dissolution of their business partnership?
Caernarvon is labour hire company, marketer and packer of cherries. To the best knowledge of DCP, its assets include a Cherry Grader purchased in 2013, additional lanes added in 2014 and virtually nothing else (according to the PPSR register). As the packer and marketer of cherries, it is expected that it will be argued that Caernarvon is in effect a merchant within the terms of the Horticultural Code of Conduct (“the code”). As such, the code requires Caernarvon to have Horticultural Produce Agreements (“HPA”), in writing, with every fruit grower it deals with. DCP has spoken to multiple fruit growers and is yet to meet a single fruit grower that has received from Caernarvon a HPA which the code says is mandatory. This could be a problem for Caernarvon in the class-action if it proceeds.
It is unknown whether this company was the purchaser of the former Bonny Glen apple grader believed to have been sold by the liquidators (of Bonny Glen). A recent search of the PPSR register of Caernarvon does not reveal any PPSR charge on the apple grader.
Bernard is the son of Fred & Pam Hall, formerly of the Bonny Glen orchard, Orange ; the husband of Fiona Catherine Hall ; and, the brother of Timothy Simon Hall.
Caernarvon’s bankers appear to be Westpac Bank who at least at present hold mortgages over a number of the Bonny Glen properties and have a security interest in Caernarvon’s cherry grader.
Present known cases against Caernarvon Cherry
DCPLH is currently undertaking a statement of claim (as at 6 November 2019) in pursuit of an alleged debt owed by Caernarvon Cherry Pty Ltd to it, as assignee. DCPLH has filed this statement of claim in late September 2019 with a defence due by the defendants who have sought extra time to file on or before the end of November 2019.
To discuss this or any other Caernarvon matter – please complete the below form, call us 7 days till late on 1300-327123 or use one of the instant chat icons in the bottom corners of this page to chat with us now, 7 days till late.
* it is understood that the liquidators of Bonny Glen have issued a notice to complete on the purchase/s of land from the auctions of 24 July 2019 by close of business on 14 November 2019, time being of the essence. Unless Bernard completes the purchase of the Caernarvon Shed, it would appear that Caernarvon may not have a going concern business or may require to relocate to other non purpose built facilities?
For more information – chat with us live using our instant chat tools (bottom corners), book an appointment or call now on 1300-327123 (till late).
To contact us with any tip-offs, files or information – please use the instant chat tools or form below:
Bernard has thus far (as at 8 November 2019) only completed the purchase of Brooklyn with a further $7.35m outstanding to purchase the above excluding Brooklyn.
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.
If you have any comments or information about Bernard & Fiona Hall, we’d love to hear from you including any documents via the instant chats below, through the below form or by phone on 1300-327123.
For more information – chat with us live using our instant chat tools (bottom corners), book an appointment or call now on 1300-327123 (till late).
To contact us with any tip-offs, files or information – please use the instant chat tools or form below:
DCPLH is currently undertaking a statement of claim (as at 6 November 2019) in pursuit of an alleged debt owed by Caernarvon Cherry Pty Ltd to it, as assignee.
The claim seeks damages of upto $621,000 plus legal costs.
The matter is in the NSW District Court.
DCPLH has filed this statement of claim in late September 2019 with a defence due by the late November 2019.
