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.
Mergers & Acquisitions
Brookfield sells retirement village operator Aveo for $3.85B
Brookfield Asset Management, a leading global alternative asset manager headquartered in New York with over US$1 trillion of assets under management, has agreed to sell its retirement living platform, Aveo, to The Living Company for A$3.85 billion...
