Bankrupt lawyer‘s fightback

LAWYER Rory Quinn, who opted for bankruptcy after losing a battle over a personal guarantee given to two Gold Coast lenders, has launched a new fightback action.

The Paradise Waters resident is asking the Supreme Court to set aside judgments against her and also is suing the lenders for damages.

The lending companies, SPA Investments and Pioneer Investments Australia, sued Mrs Quinn in 2017 over a personal guarantee on a loan, which went into default, on a 56ha property at Yeppoon.

The court awarded them $7.146m and interest, compounding monthly, at 20 per cent.

Mrs Quinn failed with an appeal late last year.

Her new Supreme Court action, in tandem with company YIC Industrial, of which she was sole director, says there were two Pioneer Investments.

It is alleged the one involved in the suit over the loan guarantee had been deregistered in 2008 and had no capacity to take legal action.

Mrs Quinn is asking the Supreme Court to set aside judgments against her and also to set aside the loan guarantee.

She and YIC also are seeking damages for fraud relating to the costs incurred in the prior court actions and a declaration that the registered Pioneer has no standing to enforce the original judgment.

Pioneer is owned by Steve Stefanowicz and SPA by property investor Steve Anderson.

Mrs Quinn, who opted for bankruptcy in January, owes Pioneer and SPA $8.59m, according to figures released by her bankruptcy trustee last week.

He total debts were listed as $29.681m, and included $50,000 owed to husband John, a retired lawyer who in 2014 admitted debts of $93m.