His wife purchased the $6.2 million property in 2014 using funds stolen from her investors. The property still has a $4 million mortgage.
Melissa Caddick’s parents Barbara and Ted Grimley.
Justice Brigitte Markovic ordered that the court is to be notified if there is any dispute “regarding the removal of personal property and items from the Dover Heights Property” leading up to its sale.
Robert Newlinds, SC, the barrister acting for Caddick’s parents, Barbara and Ted Grimley, indicated there has not been a resolution to the Grimleys’ claim over the Edgecliff penthouse that Caddick acquired in 2016 for $2.55 million using stolen funds.
The Grimleys, who are in their eighties, contributed more than $1 million to pay down the mortgage and to give them a 37 per cent stake in the property.
Their daughter agreed this gave them the right to live there for the rest of their lives.
The ring Melissa Caddick bought with her parents’ money was pictured in a catalogue when she later sold it.
As revealed in the podcast Liar Liar: Melissa Caddick and the Missing Millions, court-appointed receiver Bruce Gleeson found that the parents’ money was spent by their daughter on a $590,000 diamond ring, private jets and other lifestyle expenses.
According to documents filed with the court by Michael Hayter, solicitor for the receivers, it is not accepted that the Grimleys have a right to a life tenancy or to a stake in the property. Hayter also flagged conducting public examinations of the Grimleys as to the validity of their claims.
Newlinds foreshadowed that unless consensus could be agreed between his clients and the receivers, there would be a legal battle about who should get priority: the Grimleys or other investors who thought Caddick was investing their funds in shares, when she was really stealing their money to support her extravagant lifestyle.
The judge heard that both properties have substantial mortgages over them and the National Australian Bank is charging default interest.
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Because of this, the receivers should contemplate using the proceeds of the Dover Heights sale “to pay as many debts as possible to stop interest running,” Newlinds submitted.
He said that this would mean that when the “pot of money is divided up, the pot is as big as it possibly can be.”
A coronial inquest into Caddick’s presumed death will be held in September and the judge scheduled the next case management hearing for 19 September.
Read More:Melissa Caddick’s Dover Heights home to hit the market
2022-05-03 02:13:14
