Nathan Birch defaulting on IP mortgages...

Discussion in 'Property Market Economics' started by hash_investor, 5th Jan, 2018.

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  1. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    The credit default and judgment would be with the company. It probably won't affect other entities if he plans it right.
     
    Terry_w, 5th Jan, 2018
    #21
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    But why couldn't someone like him pay the $2500 per month.
     
    Terry_w, 5th Jan, 2018
    #22
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  3. MTR

    MTR Well-Known Member

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    One word comes to mind.....
    Schadenfreude
     
    MTR, 5th Jan, 2018
    #23
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  4. kierank

    kierank Well-Known Member

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    Especially if you are netting $10,000 per week.
     
    kierank, 5th Jan, 2018
    #24
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  5. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Hey that is my safe word!
     
    Terry_w, 5th Jan, 2018
    #25
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  6. Pete Arendt

    Pete Arendt Well-Known Member

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    BInvest Blog 22nd June 2017 :
    Nathan Birch Is Selling His Properties?

    AFR:

     
    Pete Arendt, 5th Jan, 2018
    #26
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  7. MTR

    MTR Well-Known Member

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    I love that word....
     
    MTR, 5th Jan, 2018
    #27
  8. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    June 23 was probably the deadline for repayment of the whole loan, but previous demands would have been happening for months.
     
    Terry_w, 5th Jan, 2018
    #28
  9. GreenMedallion

    GreenMedallion Member

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    Very interesting.
     
    GreenMedallion, 5th Jan, 2018
    #29
  10. SatayKing

    SatayKing Well-Known Member

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    Zugzwang
     
    SatayKing, 5th Jan, 2018
    #30
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  11. sash

    sash Well-Known Member

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    ding
    :eek: Whaattt???

    He must have rocks in his heads...if he defaults it affects his credit rating....worse still there is public judgement against him which can be googled by anyone?

    That is knuts....do ya know how long it takes and the process for listing a default and getting it the courts...that could take up to six months. Not only that they also call you....so it would not be a surprise. .....wow!

    Crazy stuff!
     
    sash, 5th Jan, 2018
    #31
  12. Pete Arendt

    Pete Arendt Well-Known Member

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    He may of had no choice. It's possible HLG One Holdings Pty Ltd was insolvent on June 23. I guess ASIC will no doubt investigate this.
     
    Pete Arendt, 5th Jan, 2018
    #32
  13. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Why would ASIC investigate?
     
    Terry_w, 5th Jan, 2018
    #33
  14. sash

    sash Well-Known Member

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    Complex word....no english equivalent..

    Schadenfreude
     
    sash, 5th Jan, 2018
    #34
  15. sash

    sash Well-Known Member

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    Well...if it was a trading company and he was trading whilst insolvent...would that not be against the leu? ASIC have proved to be asleep at the wheel...but Inspector Clouseau many... ;)

     
    sash, 5th Jan, 2018
    #35
  16. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    It was probably not trading nor trading while insolvent. ASIC generally don't investigate insolvent trading anyway.
     
    Terry_w, 5th Jan, 2018
    #36
  17. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    I believe ASIC has been investigating him and associated businesses for quite some time now.
     
    Peter_Tersteeg, 5th Jan, 2018
    #37
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  18. sash

    sash Well-Known Member

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    Let see what happens....if multiple companies he owns do that it should get very very interesting.....let see what his other creditors think and do downstream...;)

    If he gave a Director guarantee...the long arm of the law and banks has a lot reach....;)
     
    Last edited by a moderator: 5th Jan, 2018
    sash, 5th Jan, 2018
    #38
  19. sash

    sash Well-Known Member

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    Is that true or heresay?
     
    sash, 5th Jan, 2018
    #39
  20. twobobsworth

    twobobsworth Well-Known Member

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    Promo vid on the property

    v=z1M5RIxyXo0
     
    twobobsworth, 5th Jan, 2018
    #40
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