Million dollar case dropped
ACCUSED murderer Ron Medich and brother Roy have dropped a court case that would have forced the sale of land worth hundreds of millions next to the planned Badgerys Creek airport.
Roy brought a case against his brother to the NSW Supreme Court in 2014, seeking an independent trustee to sell a 345ha site they jointly own at Badgerys Creek.
Roy believed his brother’s impending murder trial was compromising his ability to deal with the Department of Planning. Roy was dependent on the department to rezone the Elizabeth Dr site, located next to land earmarked for Badgerys Creek airport, so it could be redeveloped.
“My brother and I have jointly dropped the section 66 action, which involved appointing a trustee to sell the property,” Roy told The Sunday Telegraph.
“The matter no longer exists. It was going on for years, no action had been taken and it was costing us money.”
Roy, 67, and his 69-year-old brother Ron, both property developers, each purchased a 50-50 stake in the land in 1997 for $3.5 million.
The value of that property has skyrocketed with the announcement of Western Sydney Airport in April 2014.
Roy said the property was valued at around $35 million in 2014, however it is still zoned as rural. A change in zoning by the Department of Planning would vastly increase the value of the property.