Please select your home edition
Edition
Mackay Boats

Gold Coast's Hope Harbour in receivership

by Media Services on 22 Mar 2012
Hope Harbour ..
Hope Harbour, the Gold Coast marina acquired by Craig Gore in 2008 for $38 million, has been placed into receivership by financier Morgan Stanley.

Hope Harbour comprises a 283-berth marina and houses the ferry terminal for the failed Couran Cove Resort which is also in the hands of liquidators from Ferrier Hodgson through a members' voluntary liquidation of the company.
Gore's is facing bankruptcy proceedings against him by the ATO.

Morgan Stanley has appointed John Melluish and Steve Sherman of Ferrier Hodgson as receivers to IMDM (Hope Harbour) Pty Ltd, whose ultimate shareholder is stricken Gore company, Ocerog Pty Ltd.

The US investment giant became Hope Harbour's mortgagee in December following a buyout of the distressed loan book of UK-based Capital Finance.

Morgan Stanley is understood to have bought the $1.7 billion debt, held against a host of Gold Coast properties including Southport Central, for as little as 20 in the dollar.

Mr Gore acquired Hope Harbour from Gold Coast developer John Fish. He lost control of the asset in 2009 after Mayfair Group stepped in and subsequently appointed receivers to private Gore company Ocerog, the ultimate shareholder of IMDM (Hope Harbour).

Hope Harbour's receivers said they had no immediate plans to market the property. 'We want to initially bed down the operations and maintain business as usual,' Mr Melluish said.
Zhik AkzoNobelb 660x82PredictWind.comRS Sailing 660x82

Related Articles

Keep the water out with Zhik’s new Superthermal Hydrobase
The lower arm and leg of the new Superthermal Hydrobase is made from a water-repellent, stretch woven fabric We’ve all done it - and fished a rope out of the water, pushed the rudder down or stepped down the slipway one foot too far and gained that unwanted wet sleeve or leg.
Posted on 9 Aug
North Sails releases new 3Di Headsail for the J/105 Class
North Sails released its latest headsail design for competitive J/105 class. The Li-5 3Di jib replaces the L-4 3DL jib North Sails released its latest headsail design for the competitive J/105 class. The Li-5 3Di jib replaces the L-4 3DL jib bringing the ultimate consistency and performance of North’s exclusive 3Di technology to this light-air optimized headsail. The Li-5 is the perfect complement for the Mi-4 3Di jib which is an all-purpose sail.
Posted on 4 Aug
Hands up - Who is wearing the Zhik Boot 460 at the Moth Worlds?
The Zhik Boot 460 are known as the active dinghy sailors ‘best friend’. The Zhik Boot 460 are known as the active dinghy sailors ‘best friend’. Last week Peter Burling rang the Zhik product development team in Sydney, for assistance to get hold of a pair of the Boot 460s in time for the Moth Worlds in Lake Garda. And looking around the fleet it seems he’s not alone, and the 230 strong fleet of Moth sailors are voting with their feet too.
Posted on 29 Jul
Yacht Racing Forum extends partnership with Zhik for two more years
Top sailors choose Zhik gear to win world championships, and demand it for their OIympic campaigns. The company sells its products into an international network covering more than 40 countries, in Europe, the Americas and the Asia Pacific.
Posted on 25 Jul
Moth Worlds – Moth speed uncovered
C-Tech’s Tim Willetts takes time to reflect on changes in Moth class rig design and development over the past six years With the 2017 Moth world championship starting Tuesday, C-Tech’s Tim Willetts takes time to reflect on changes in Moth class rig design and development over the past six years. A lot has happened behind the scenes that is giving the top sailors the edge by staying ahead.
Posted on 25 Jul
Int Moth Worlds - Zhik returns to its spiritual home at 2017 Worlds
Zhik is returning to its roots as the official clothing sponsor of the 2017 McDougall McConaghy Moth World Championships Zhik, the innovative sailing apparel specialist, is returning to its roots as the official clothing sponsor of the 2017 McDougall McConaghy Moth World Championships. And, ten years on, the Moths are returning to their spiritual home on Lake Garda. Zhik and the International Moth class are virtually synonymous with each other.
Posted on 20 Jul
World Sailing confirms strong presence at Yacht Racing Forum 2017
The tenth edition of the Yacht Racing Forum, in Aarhus, Denmark will reassemble the sport’s key personalities and actors The tenth edition of the Yacht Racing Forum, in Aarhus, Denmark (November 27-28) will once again reassemble the sport’s key personalities and actors, including a strong delegation of World Sailing representatives.
Posted on 19 Jul
Watch Change in Crosshaven - UK Sailmakers under new command
'Our strength has always been service, quality and people. Right now, they are Graham, Claire and Barry.' The famous Crosshaven loft that is part of the UK Sailmakers organisation will shortly have a new crew on deck. Barry Hayes, Claire Morgan and Graham Curran are taking over from Des McWilliam who is stepping down after 39 years in the business and 25 years at the helm of McWilliam Sailmakers.
Posted on 3 Jul
When the going gets hot Zhik has the answers on what to wear afloat
Whilst many of us Brits are looking in the sailing bag wondering what on earth to wear afloat in this heatwave Whilst many of us Brits are looking in the sailing bag wondering what on earth to wear afloat in this heatwave, Zhik the Australian sailing apparel innovators are set up for dealing with extreme heat, moisture management and sun protection.
Posted on 22 Jun
AkzoNobel named as official supplier to the Volvo Ocean Race Boatyard
The competing boats– including team AkzoNobel’s brand new Volvo Ocean 65– have already been coated with Awlgrip products AkzoNobel will be the official coatings supplier to the Volvo Ocean Race Boatyard in 2017-18, after signing a deal to ensure that the fleet of Volvo Ocean 65 racing yachts will be coated with the company’s International and Awlgrip range of products
Posted on 29 May