Darren Olney-Frasers Mariner Corp. closed its books on its failed purchase of Geoff Coxs Hermitage Lifestyle Resort. The receiver and Mariner agreed to terminate the contract for sale of the land and business deed over the village, closing off Supreme Court proceedings. The agreement is confidential. It is not known how much if any of Mariners deposit of $312,500 they clawed back.
Late last year Mariner paid 5% deposit on both The Woniora village and the Hermitage, around $700,000 all up, but failed to complete on either on the contract dates.
Adding to his troubles, Mariner and directors Darren Olney-Fraser and Don Christie have been served with statements of claim by ASIC following their offer to buy shares in Austock Group when it is alleged they did not have sufficient funds to make the offer.
Opinion
Retirement villages have Canberra’s attention – now the sector must prove its value
Three years after Daniel Gannon took the reins of the Retirement Living Council (RLC), the sector has achieved something his predecessor Ben Myers was never able to: national recognition in Canberra. This is just the fist step. Retirement villages now need to capitalise on this moment. Here’s how.
