Mariner ends up empty-handed as its retirement village saga comes to an end

Published on

Darren Olney-Fraser’s Mariner Corp. closed its books on its failed purchase of Geoff Cox’s 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 Mariner’s 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.