In their April 29 report to creditors, Mr Hosking and Mr Hathway said they were also investigating a number of potentially voidable transactions including payments totalling $9.28 million made to Merhis Finance (a wholly owned subsidiary of Merhis Corp, which is wholly owned by Mark Merhi) and $18.46 million transferred to related companies in the lead up to liquidation.
The liquidators are also taking legal action to recover about $800,000 from the sale of four ground-floor commercial lots to Stacey Apartments sole shareholder Oger Holdings (Aust) Pty Ltd. These were sold for $400,000 including GST compared with an independent retrospective valuation of $1.2 million plus GST when assessed by Messrs Hymans Valuers & Auctioneers on behalf …
Read the full article at: https://www.afr.com/real-estate/residential/liquidator-refers-developer-merhis-to-asic-over-insolvent-trading-20190605-p51upf
