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(10-28-2016, 09:11 AM)harrisendblue link Wrote:even more reason to keep him interested in the club. hopefully now that he is cashed we will get that extra 150k. mind u he still donated 850k if u believe the report which is not a bad effort for someone we want nothing to with. give the doc a fair go.
While he has been splashing his mother's money around, the ex-doctor is still in deep financial sh1t:
Quote:Bankrupt businessman Geoffrey Edelsten faces years of litigation in Australia and the United States, with creditors in both countries lining up to get a piece of his Victorian assets.
Edelsten is being chased by more than 40 creditors , including the Australian Taxation Office, for millions of dollars.
He also owes National Australia Bank, Bendigo Bank and AFL club Carlton among the 41 creditors, while court documents from 2014 say Edelsten owes more than $10 million to his former US business partner Rafael Mawardi.
Edelsten on Wednesday attended the Federal Court in Melbourne to observe a hearing involving his US bankruptcy trustee and the NAB.
Edelsten declared bankruptcy in the US in 2014, prompting his bankruptcy trustee to launch Federal Court proceedings which resulted in Edelsten's Australian assets being handed to an administrator.
NAB is one of three secured creditors owed money by Edelsten, who is being pursued by a further 38 creditors split between the US, Australia, the Dominican Republic and Singapore.
Counsel for the bank, Peter Collinson QC, said NAB are still working out how to navigate Edelsten's US bankruptcy, and litigation in Australia over unpaid loans.
"We face the high risk of having to litigate in two courts," Mr Collinson told Justice Jonathan Beach.
Justice Beach also questioned whether any orders he made would be recognised by the US Bankruptcy Court dealing with Edelsten's American debts.
http://www.news.com.au/national/breaking...f778f05d53
The club should write off his debt and p1ss him off.
“Why don’t you knock it off with them negative waves? Why don’t you dig how beautiful it is out here? Why don’t you say something righteous and hopeful for a change?” Oddball
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the news that creditors are trying to obtain some of his inheritance is not earth shattering news and is quite expected. the fact he is having business disputes should not disqualify him from a blues member/contributor - though they should get the cash upfront.
geez if we dont want people with current or previous financial issues or not repaid a debt then i shudder to think how low our membership base would be.
i would not write off his debt but rather try to leverage his clear love of the blues and try to eventually get it back.
Arguably our greatest player ever fell foul of the law (twice) over financial issues.....so where do we draw a line? ???
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Lol.
He owes us 150k remaining from a 1 million dollar donation.
That means he's given us 750k.
That's more money than I'll pay in membership over my lifetime.
I think perspective is being missed here.
"everything you know is wrong"
Paul Hewson
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(10-29-2016, 08:03 AM)Lods link Wrote:Arguably our greatest player ever fell foul of the law (twice) over financial issues.....so where do we draw a line? ???
There's a great difference between the two situations. For a start, Edelsten was convicted of attempting to pervert the course of justice and is actively conniving to avoid paying his debts.
Edelsten is regularly in the media for the wrong reasons including the latest episode where his debt to CFC was raised. That's not good publicity for the club.
“Why don’t you knock it off with them negative waves? Why don’t you dig how beautiful it is out here? Why don’t you say something righteous and hopeful for a change?” Oddball