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Charterhill Group entities in trouble

Charterhill Group entities in trouble

James Mitchell
24 January 2014

Several related entities of an SMSF accountancy and property firm have gone into various stages of collapse, including at least two receiverships and a liquidation.

SMSF Adviser can confirm that at least four entities of the Adelaide-based Charterhill Group are no longer trading.

SMSF Adviser attempted to contact Charterhill Group chief executive George Nowak, reaching the following voicemail message: “If your call is in relation to Charterhill Group, please contact Heard Phillips Accountants".

Heard Phillips accountants confirmed that they have been appointed as administrators of Nova Real Estate Proprietary Limited and liquidators for Lending Solutions – two Charterhill entities - by Mr Nowak.

Heard Phillips director Anthony Philips also confirmed that he had been advised on Friday that Michael Basedow and Leigh Prior from Pitcher Partners, Adelaide were appointed receivers and managers to Financial Wellness Pty Limited and EJ Property Developments Pty Limited, two additional Charterhill entities.

When contacted, Mr Basedow confirmed that Financial Wellness Pty Limited and EJ Property Developments are both entities of Charterhill Group.

A call to Charterhill Group’s office phone could not be connected today.

An email to George Nowak received a bounce back alert.

According to Charterhill Group Pty Limited’s LinkedIn company page, Charterhill are “chartered accountants specialising in property investment with self-managed superannuation funds” and offer the following services: “accounting and financial planning”, “sourcing property”, “property research centre”, and “SMSF borrowing.”

According to an ASX announcement of 15 August 2013 relating to Charterhill Group’s acquisition of Natural Fuel Limited, “Charterhill Group are chartered accountants specialising since 1998 in real estate procurement and property portfolio building solutions for retirement planning and self-managed super fund property structuring.”

More to come.

Charterhill Group entities in trouble
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