Post by rowdy on Mar 16, 2012 19:40:02 GMT 7
An interesting story in today's Daily Telegraph relating to a "Sydney Glamour Couple" facing bankruptcy due to living beyond their means. Crying poor, yet living in a $3000 a week house in Sydney's eastern suburbs. - WTF makes me want to puke.
Anyway the good news is pensioners just got a $6 a fortnight increase. Think I might splash out and go on a bus trip. Will have to save for the return trip though.
Rowdy
Glamour couple in financial hot water
THE Sydney glamour couple who announced this week that their 20 year marriage is over are in financial hot water.
Fashion designer Rebecca Davies is facing bankruptcy and her former husband, investment banker Bryan Davies entered into a bankruptcy-style arrangement with his creditors in December last year.
The Commonwealth Bank is pursuing Rebecca Davies over a $135,000 debt owing since 2009.
The bank originally pursued Ms Davies and her husband for the debt in the district court, but the couple did not come up with the money.
Mr Davies entered into a Part X insolvency arrangement with his creditors last year.
His insolvency trustee Anthony Warner from accounting firm CRS Partners declined to say how many cents in the dollar Mr Warner would pay his creditors.
The couple have been living in a rose bay house listed for rent at $3000 a week.
However process servers have been unable to track down Mrs Davies to serve her with bankruptcy documents.
The couple previously lived in Wunulla Road Point Piper - one of Sydney's best addresses.
Davies and her investment banker husband Bryan were once regarded as one of Sydney's most successful and admired couples.
The glamorous pair boasted an enviable lifestyle which allowed her to give up her successful fashion label in 2007 so that her husband, as she said at the time, would have "his time to shine" while she looked after the couple's three children.
Mr Davies had total debts of $1.27million.
They include $520,894 owed to HSBC Bank, $24,972 worth of school fees owed to Rose Bay Girl's School Kambala and $5595 owed to private boy's school Cranbrook.
He also owed $122,047 to the Commonwealth Bank, $68,853 to BMW finance and $70,000 on two credit cards.
Double bay businessman Richard Woods, believed to be Mr Davies business partner in consultancy firm Davies Woods, is owed $402,323.
The couple had a holiday home on a farm at Robertson in the southern highlands which was sold by HSBC Bank in may last year for $1.2 million.
The couple did not receive any money from the forced sale.
Mr Davies, 47, says in his statement of affairs that he only had 92 cents in his bank account in December last year and $200 cash in his wallet.
He stated he did not own a house or car, only $2000 in superannuation.
www.dailytelegraph.com.au/news/sydney-nsw/glamour-couple-in-financial-hot-water/story-e6freuzi-1226301602298
Anyway the good news is pensioners just got a $6 a fortnight increase. Think I might splash out and go on a bus trip. Will have to save for the return trip though.
Rowdy
Glamour couple in financial hot water
THE Sydney glamour couple who announced this week that their 20 year marriage is over are in financial hot water.
Fashion designer Rebecca Davies is facing bankruptcy and her former husband, investment banker Bryan Davies entered into a bankruptcy-style arrangement with his creditors in December last year.
The Commonwealth Bank is pursuing Rebecca Davies over a $135,000 debt owing since 2009.
The bank originally pursued Ms Davies and her husband for the debt in the district court, but the couple did not come up with the money.
Mr Davies entered into a Part X insolvency arrangement with his creditors last year.
His insolvency trustee Anthony Warner from accounting firm CRS Partners declined to say how many cents in the dollar Mr Warner would pay his creditors.
The couple have been living in a rose bay house listed for rent at $3000 a week.
However process servers have been unable to track down Mrs Davies to serve her with bankruptcy documents.
The couple previously lived in Wunulla Road Point Piper - one of Sydney's best addresses.
Davies and her investment banker husband Bryan were once regarded as one of Sydney's most successful and admired couples.
The glamorous pair boasted an enviable lifestyle which allowed her to give up her successful fashion label in 2007 so that her husband, as she said at the time, would have "his time to shine" while she looked after the couple's three children.
Mr Davies had total debts of $1.27million.
They include $520,894 owed to HSBC Bank, $24,972 worth of school fees owed to Rose Bay Girl's School Kambala and $5595 owed to private boy's school Cranbrook.
He also owed $122,047 to the Commonwealth Bank, $68,853 to BMW finance and $70,000 on two credit cards.
Double bay businessman Richard Woods, believed to be Mr Davies business partner in consultancy firm Davies Woods, is owed $402,323.
The couple had a holiday home on a farm at Robertson in the southern highlands which was sold by HSBC Bank in may last year for $1.2 million.
The couple did not receive any money from the forced sale.
Mr Davies, 47, says in his statement of affairs that he only had 92 cents in his bank account in December last year and $200 cash in his wallet.
He stated he did not own a house or car, only $2000 in superannuation.
www.dailytelegraph.com.au/news/sydney-nsw/glamour-couple-in-financial-hot-water/story-e6freuzi-1226301602298