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Charterhill companies owe creditors $11.5m

Charterhill companies owe creditors $11.5m

Nick Bendel
18 August 2014

Three related entities of Charterhill owe creditors a combined $11.5 million but have only collected a fraction of that in payments, according to their six-month presentation of accounts.

The Adelaide-based group offered a range of services including SMSF advice, mortgage broking, real estate marketing, property management and contract negotiation.

At least four related entities of Charterhill Group entered insolvency in January.

Three of the Charterhill companies owe creditors a combined $11.5 million but have only collected $25,000 in payments, according to their six-month presentation of accounts.

 

Financial Wellness and EJ Property Developments are under the control of the receiver, Michael Basedow of Pitcher Partners. They owe a combined $1.3 million and have received $25,000 in payments.

Lending Solutions International is now under the control of the liquidator, Andrew Heard of Heard Phillips. It owes $10.2 million and has received $31 in payments.

Charterhill director George Nowak was ordered in February this year to surrender his passport, following Mr Nowak’s apology for the “shock closure of our entire group by receivers and external administrators”.

Charterhill companies owe creditors $11.5m
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