The sale of accused fraudster Melissa Caddick’s Sydney property “should proceed posthaste” a judge has said as a potential court battle brews between her parents and out-of-pocket investors.
- There is expected to be “strong interest” in the sale of Melissa Caddick’s Dover Heights home
- Ms Caddick’s parents are seeking to retain the Edgecliff apartment they co-owned with their daughter
- The accused fraudster is believed dead but her full remains have not been recovered
Ms Caddick, 49, vanished in November 2020 and her husband, Anthony Koletti, was ordered by the Federal Court to move out of their Dover Heights home in May as liquidators attempt to retrieve some of the $23 million she allegedly stole from investors.
Barrister Steven Golledge SC, who is acting for the court-appointed receivers, yesterday told the court the receivers had set out the most appropriate way to proceed with the sale of the property and no interested party had identified any flaw in the proposal.
But he said the net proceeds needed to be “preserved” pending further application and the judge approved a request to use some to discharge the mortgage on an Edgecliff apartment where Ms Caddick’s parents lived, which was attracting interest.
Justice Brigitte Markovic said she did not wish to stand in the way of the sale which “should proceed posthaste”.
Barrister Robert Newlinds SC, representing Ms Caddick’s parents Barbara and Ted Grimley, said anyone who had an interest in the Dover Heights property had been invited to bring forward that claim, however nobody had.
The Grimleys contributed nearly $1.1 million to pay down the mortgage on the $2.25 million Edgecliff property they co-owned with their daughter and are seeking to retain the property.
Mr Koletti sat in the back of the court during the brief hearing.
He’s previously told the court the Dover Heights home, which was bought for $6.2 million, was estimated to be worth between $15 and $17 million.
Jones Partners, the receivers and liquidators, have said they anticipate “strong interest” in the home.
Justice Markovic ordered that the receivers would be justified in taking possession of the Dover Heights home and placing the proceeds of sale in a trust account.
The proceeds will also be used to pay any necessary costs, including council, water and utility rates, along with sale and marketing expenses from real estate agent.
In a statement, Bruce Gleeson, Principal of Jones Partners, said the receivership property also included the Edgecliff property.
“The parents have asserted an interest in the Edgecliff property,” he said.
“We are continuing negotiations with the Parents via their solicitors regarding resolution of such interest.
“Ultimately if such negotiations cannot be resolved, then an application will be required for the Federal Court to determine the parent’s interest.”
Mr Jones anticipated filing a further, separate application to the court in the coming weeks to “realise the jewellery, clothing, and other remaining items”.
Ms Caddick’s disappearance came soon after the Australian Investment and Securities Commission (ASIC) raided her Dover Heights home.
Three months later, her decomposed foot was found washed up on Bournda Beach near Tathra, about 500 kilometres away.