Melissa Caddick’s parents want beneficiaries to pay interest on her Edgecliff apartment

Vanessa Whittaker, SC, representing the bankruptcy trustees, told the court that since this motion for Edgecliff mortgage repayment was granted, out-of-pocket investors have joined Caddick’s pyramid scheme to hear their competing interests.

Nicholas Owens, SC, made a surprise appearance in the matter last month, telling federal court that the group represented by “Investor A” disputes the Grimleys’ claim that they should receive preferential treatment.

The investor group has expressed a desire to share equally any funds that recipients of Caddick’s estate may receive.

Whittaker told the court it had become “very apparent … that a very serious dispute exists” between the Grimleys and the other investors over whether or not the Edgecliff Mortgage should be paid out of the Dover Heights proceeds.

She said that the receivers “should be entitled to the protection of the court” because the other investors had not objected to that approach at the time they applied for the mortgage repayment order.

The matter will be brought back to court next week, with the parties telling the judge they hope to break the impasse between the parties at a settlement on Wednesday.

Meanwhile, the results of a coronal exam due to be handed over this week have been pushed back to May 25.

Justin Scaccy

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