Chifley Wollongong, page-3

We don't own that asset goggy, WCL did another crappy deal with George Callianiotis (Harbour St Developments. We are only owed $3 million which was meant to be paid in June 2014, with the remaining $4.7 million to be paid in December 2014. The payment obligation is supported by a caveat over the Hotel title and power of attorney giving the Fund power to sell the Hotel if payments are not received in accordance with the agreement.
Harbour St is in default so once again the hotel goes back on the market with Jones Lang LaSalle The same mob who took it to auction in 2009 where the highest bid was $40.5 million which WELLINGTON CAPITAL LTD DID NOT ACCEPT!!!!!