Resort ’ mess’ fires up conflict
ANOTHER US entity has taken over late tourism icon Keith Williams’ Port Hinchinbrook resort at Cardwell as a Townsville liquidator described the situation as “a mess”.
A series of legal manoeuvres have been undertaken in recent days in a continuing struggle between the resort’s investors and some of its residents.
“I think at some stage there needs to be intervention by at least state and local authorities to tidy up that development,” liquidator to The Passage Holdings Pty Ltd Michael Brennan said yesterday.
The Passage Holdings was announced last year as the buyer of the assets of the previous owner, the Williams Corporation, which fell into liquidation after its 2013 collapse. Now The Passage Holdings has also been placed into liquidation after a successful petition to the Brisbane Supreme Court by a group of 20 residents.
Mr Brennan was appointed by the court on August 4.
He said he understood that subsequent to the liquidation representatives of some of the secured creditors to The Passage Holdings had taken possession of the resort property under a second mortgage.
Residents at the resort have told the Bulletin notices were attached to the front doors and windows of offices and businesses at the resort this week.
The notices say the mortgagee, Oakland Investment Group Ltd, has taken possession of assets and all land within the development.
Mr Brennan said that from discussions with legal representatives for Oakland he understood the intention was to continue to fund the resort development.
“There’s multiple parties involved. Quite frankly, it’s a mess,” Mr Brennan said.
“Right now the position seems to be that a mortgagee has taken possession ( of the property) with a view to trying to stabilise the situation there.”
He understood residents’ grievances related to provision of services including sewerage and road access.
Agents appointed to sell property at the resort, Place Projects, said representatives of Oakland were due to visit the resort today for meetings.
Place Projects principal Bruce Goddard said their sales office remained open and that as long as the resort was moving forward “we are on board”.
“We are believers in the project as long as there are funders to make it happen,” Mr Goddard said.
A spokesman for Oakland Investment Group could not be contacted for comment.