09-02-2016, 05:01 PM
(This post was last modified: 09-02-2016, 06:43 PM by thorn bird.)
Well, well, well...it gets Murkier and Murkier and murkier (as in that murky mandarin)
Opening day of the Bankstown Airport lawyer fest.
Could it be someones been Judge shopping??
Last minute changes of be-wigged jurists tends to make one extremely Suss.
Seems like the whole tangled mess is about a extremely miffed development shark a tad upset he got sold a pup. Breech of contract they cry, but one has to wonder cry about what?
The airports Act prohibits property developers from owing airports for very good reasons.
This is why BAL formed BAC Devco to subvert that requirement and develop fully a third of the airport land, surplus land of course, but they had to close a runway (contrary to the Act), dump asbestos contaminated fill on a Georges river flood plain, without EPA approval (contrary to the Act) to free up that land for development.
Strange since nearly all the share holders of BAC Devco seem to be the same shareholders of BAL.Somebody got a nudge nudge wink wink to make that kosher.
Nobody seems to know where the 90 odd million that BAC Devco paid to BAL actually went, one can guess?? offshore??? Tax free haven??? No of course not.
Bugger me they got 230 Mil for Hoxten Park, that money is missing in action as well, so nothing would surprise me.
It is alleged BAC Devco which was set up to develop the land, paid BAL $93 million then inconveniently went broke, owing the Commonwealth Bank around $93 million.
Suckers!!!
In steps the next development shark with $$$ in the eyes encouraged, if the written correspondence is to be believed by non other than???? you guessed it, a certain Murky Mandarin.
Pipped at the post!! bugger!! the development shark finds out that the whole deal is a somewhat tainted.
According to form, sue the bastards!!!Breech of contract!!!..."I wos robbed" echo's around the airport, suddenly lawyers appear from under every rock and in the blink of an eye, its the OK corral, lawyers at fifty paces.
What none of them realise is the whole court case is maybe problematic anyway.
No NSW stamp duty, as required by the Airport Act was paid on the original lease or on any of the other transactions subsequently.
This maybe voids any agreements subsequently anyway.
The "land", which IS airport land, regardless of the development sharks description of it as "adjacent to the airport"
(they had to close a runway contrary to the airport act to get it),
The Land concerned is a flood plain, contaminated with PFOS, PFOA and PCA's, same as Newcastle, sprayed about the place by the old airport fire service. Under that live ammunition and large quantities of bunker oil buried there after the second world war and possibly human excrement from dumped night cart material from the 50'ties and 60'ties.
The poor old development shark, hooked like a great white on a drum line!!
No wonder he is miffed, his dreams of $$$ sort of evaporated in the blink of an eye, and nobody will ever know what donations he made to what political party to get what he thought was the box seat. Poor bugger, down to his last billion dollars, how will he ever manage?
Round two, next week!! should be interesting,estimates of months and over sixty million in costs, no wonder there's too many lawyers to fit in the court room.
Opening day of the Bankstown Airport lawyer fest.
Could it be someones been Judge shopping??
Last minute changes of be-wigged jurists tends to make one extremely Suss.
Seems like the whole tangled mess is about a extremely miffed development shark a tad upset he got sold a pup. Breech of contract they cry, but one has to wonder cry about what?
The airports Act prohibits property developers from owing airports for very good reasons.
This is why BAL formed BAC Devco to subvert that requirement and develop fully a third of the airport land, surplus land of course, but they had to close a runway (contrary to the Act), dump asbestos contaminated fill on a Georges river flood plain, without EPA approval (contrary to the Act) to free up that land for development.
Strange since nearly all the share holders of BAC Devco seem to be the same shareholders of BAL.Somebody got a nudge nudge wink wink to make that kosher.
Nobody seems to know where the 90 odd million that BAC Devco paid to BAL actually went, one can guess?? offshore??? Tax free haven??? No of course not.
Bugger me they got 230 Mil for Hoxten Park, that money is missing in action as well, so nothing would surprise me.
It is alleged BAC Devco which was set up to develop the land, paid BAL $93 million then inconveniently went broke, owing the Commonwealth Bank around $93 million.
Suckers!!!
In steps the next development shark with $$$ in the eyes encouraged, if the written correspondence is to be believed by non other than???? you guessed it, a certain Murky Mandarin.
Pipped at the post!! bugger!! the development shark finds out that the whole deal is a somewhat tainted.
According to form, sue the bastards!!!Breech of contract!!!..."I wos robbed" echo's around the airport, suddenly lawyers appear from under every rock and in the blink of an eye, its the OK corral, lawyers at fifty paces.
What none of them realise is the whole court case is maybe problematic anyway.
No NSW stamp duty, as required by the Airport Act was paid on the original lease or on any of the other transactions subsequently.
This maybe voids any agreements subsequently anyway.
The "land", which IS airport land, regardless of the development sharks description of it as "adjacent to the airport"
(they had to close a runway contrary to the airport act to get it),
The Land concerned is a flood plain, contaminated with PFOS, PFOA and PCA's, same as Newcastle, sprayed about the place by the old airport fire service. Under that live ammunition and large quantities of bunker oil buried there after the second world war and possibly human excrement from dumped night cart material from the 50'ties and 60'ties.
The poor old development shark, hooked like a great white on a drum line!!
No wonder he is miffed, his dreams of $$$ sort of evaporated in the blink of an eye, and nobody will ever know what donations he made to what political party to get what he thought was the box seat. Poor bugger, down to his last billion dollars, how will he ever manage?
Round two, next week!! should be interesting,estimates of months and over sixty million in costs, no wonder there's too many lawyers to fit in the court room.