Monday, January 30, 2023
The Property Reporter
  • Home
  • News
  • Retail
  • Residential
  • Office
  • Industrial
  • Hotel
  • Buying a Home
  • Selling a Home
No Result
View All Result
  • Home
  • News
  • Retail
  • Residential
  • Office
  • Industrial
  • Hotel
  • Buying a Home
  • Selling a Home
No Result
View All Result
The Property Reporter
No Result
View All Result
Home Office

John Barilaro’s Coronation crew before New York trade job controversy

PrR by PrR
2022-07-04
in Office
0
21
SHARES
160
VIEWS
Share on FacebookShare on Twitter


His business partner Nahas did not respond, nor did Barilaro.

In his LinkedIn profile, Nahas states that he has been the managing director of Coronation Property since 2011.

However, the Herald can reveal that in October 2012, Nahas, 40, who is also known as Youssef Nahas, listed himself as “unemployed” on his personal insolvency agreement. This allows a debtor to come to an agreement with creditors to settle debts without becoming bankrupt.

In December 2012 three construction companies of which Nahas had been a director went into administration owing millions of dollars to sub-contractors.

In March 2014 he became a director of Coronation and two months later Nahas finalised his obligations to creditors, according to corporate records.

Since then, Nahas and his family have gone from strength to strength. In late 2015, his wife Danielle ­Elkorr, the best friend of former cricketer Michael Clarke’s former wife, Kyly Clarke, snapped up a prime waterfront Darling Point site for $11.125 million. The couple is spending at least that much again building a luxurious new home, with more than $1 million going on imported designer tiles alone.

Construction on the new Nahas home in Darling Point where more than $1 million is going on  imported designer tiles.

Construction on the new Nahas home in Darling Point where more than $1 million is going on imported designer tiles.Credit:Wolter Peeters

As their ambitious multi-storey construction continues, corporate records show the couple has borrowed money from a company owned by a John Wilson of Mosman.

Wilson has also lent the couple money for their proposed beachfront home at Wamberal on the Central Coast.

In October 2017, Elkorr paid $2.7 million for a vacant block on Ocean View Drive. At the same time, through an investment vehicle, her husband snapped up the adjacent beach shack for $2.46 million. Council records show that a number of objections have been received to Coronation Property’s ambitious plans for a multimillion-dollar beach house on the two sites.

The Herald can confirm that Wilson is the alias for Zeljko Ranogajec, one of the biggest punters in the world with an annual turnover of more than $3 billion. Nicknamed “the Loch Ness Monster”, the gambling tsar is rarely seen. He lives at One Hyde Park, London, one of the most expensive apartment blocks in the world. Ranogajec uses a series of corporate mazes and front people to make sure he stays in the shadows.

Loading

Separate caveats lodged on the Wamberal and Darling Point titles in October last year reveal that Wilson/Ranogajec’s company Ashbury Capital has an unregistered second mortgage over the properties.

Ranogajec, through Ashbury Capital, is also a partner with Landerer and Nahas in a major development at a 3.14-hectare industrial site in Milton Street, Ashbury, which is set to be transformed into high-density apartments. Corporate records also reveal the gambling tycoon has other commercial property interests with Nahas in Chatswood and Erskineville.

Ashbury Capital came on board after the 2019 departure of Landerer and Nahas’ previous partner in the project, Minfeng “Richard” Gu, whose AFX property group collapsed with debts of more the $200 million.

In 2016, Gu famously forfeited his million-dollar deposit when he failed to complete the $19.8 million purchase of actress Cate Blanchett’s house in Hunters Hill.

Landerer, a former chairman of Rodney Adler’s insurance company FAI and lawyer to the late business figures Sir Peter Abeles and Rene Rivkin, is set to face a public examination by liquidators into the spectacular $600 million collapse of the iProsperity property group, run by Michael Gu (no relation to Richard Gu) who fled Australia in 2020.

Michael Gu, right, founder of failed property group iProsperity, with Sydney solicitor John Landerer.

Michael Gu, right, founder of failed property group iProsperity, with Sydney solicitor John Landerer.

In May, this masthead reported Landerer is under scrutiny over millions of dollars in loans he and his businesses were claimed to have received from the iProsperity group at a time Landerer was advising it about some of its property ventures.

The dealings include a $9.3 million loan to Landerer and his wife’s private company, Regina Equities.

At the time, Landerer denied involvement as a director of the iProsperity group of companies. “I was not a director or a shadow director. There is no evidence at all that I was,” Landerer said. “I never signed anything as a director. I never attended any director meetings. It’s all bullshit.”

Meanwhile, last month Coronation Property outlaid $315 million for a large parcel of land in Erskineville from Chinese developer Greenland Golden Horse. The area has been earmarked for the future stages of the Park Sydney project.

The Morning Edition newsletter is our guide to the day’s most important and interesting stories, analysis and insights. Sign up here.



Source link

Previous Post

Foxy Management Tops Out NYC Affordable Senior Housing

Next Post

Cushman & Wakefield Hong Kong Retail Services Team Won the Highest Honour at 2022 Asia Pacific Property Awards

Next Post

Cushman & Wakefield Hong Kong Retail Services Team Won the Highest Honour at 2022 Asia Pacific Property Awards

RECOMMENDED

MGM Resorts International (MGM) Q2 2022 Earnings Call Transcript

2022-08-04

Cedar Fair (FUN) Q2 2022 Earnings Call Transcript

2022-08-03

MOST VIEWED

  • Fox Lake hopes to bring hotel to Mineola lakefront site; ‘Recognizing our unique position on the Chain O’ Lakes is a key driver for our progress’ – Chicago Tribune

    753 shares
    Share 301 Tweet 188
  • Doubling Down With the Derricos’ Deon boasts about ‘buying up blocks’ & promotes real estate business after foreclosure

    193 shares
    Share 77 Tweet 48
  • Historic home on 32-acre site annexed into Elgin for new industrial development free to anyone who wants to move it

    156 shares
    Share 62 Tweet 39
  • Plas Glynllifon’s new owner speaks for first time on difficult challenge to renovate mansion

    119 shares
    Share 48 Tweet 30
  • Atlanta developer plans downtown Dallas towers

    94 shares
    Share 38 Tweet 24

Recent Posts

  • MGM Resorts International (MGM) Q2 2022 Earnings Call Transcript
  • Cedar Fair (FUN) Q2 2022 Earnings Call Transcript
  • NYC’s First Half CRE Investment Sales Volume up 99 percent: Report – Commercial Observer
  • Designers share tips for bringing more color into your home
  • Colleges get creative to solve student housing squeeze

CATEGORY

  • Buying a Home
  • Hotel
  • Industrial
  • News
  • Office
  • Residential
  • Retail
  • Selling a Home
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Property Reporter

No Result
View All Result
  • Home
  • News
  • Retail
  • Residential
  • Office
  • Industrial
  • Hotel
  • Buying a Home
  • Selling a Home

© 2021 Copyright Property Reporter