Strand busi­ness bank­rupt

Townsville Bulletin - - News - Tony Rag­gatt

MICHELLE McCracken, the wife of prom­i­nent Townsville busi­ness­man and for­mer foot­ball star Jar­rod McCracken, has been forced into bank­ruptcy.

In­sol­vency records show pe­ti­tion­ing cred­i­tor Golder As­so­ciates Pty Ltd gained a se­ques­tra­tion or­der plac­ing Ms McCracken into bank­ruptcy on March 3.

Ger­ard Collins and Matthew Joiner of PFH Char­tered Ac­coun­tants and Busi­ness Ad­vi­sors have been ap­pointed trustees over Ms McCracken’s as­sets and es­tate that can be dis­bursed to cred­i­tors.

Prop­erty records show Ms McCracken is the owner of the fam­ily’s 387.9ha Ear­lando prop­erty in the Whit­sun­days and the Wa­ter­mark restau­rant and three Wa­ter­mark units on The Strand.

The Wa­ter­mark com­plex was de­vel­oped by McCracken group com­pany Coast l i ne Con­str uct i o ns ( Aust) Pty Ltd in 2006.

The com­pany was placed in liq­ui­da­tion last year with debts recorded of more than $ 3 mil­lion.

The Ear­lando prop­erty was at the cen­tre of charges against Jar­rod McCracken for il­le­gal tree clear­ing in 2007 for which he was fined $ 182,500.

Acreditor to Ms McCracken’s Wa­ter­mark restau­rant who com­plained last year about $7000 in out­stand­ing bills and was is­sued with a ‘‘ no­tice of ex­clu­sion’’ by the restau­rant, Townsville Whole­sale Fruit and Veg­eta­bles man­ag­ing di­rec­tor John Baran, con­firmed yes­ter­day he still had not been paid.

Prop­erty records show Mr McCracken owns four key prop­er­ties in Townsville’s CBD in­clud­ing the North­town re­tail and of­fice com­plex ac­quired over the past 10 years for a to­tal of about $ 10.75 mil­lion.

Michelle McCracken

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.