Bankrupt
On 6 June 2008, the courts appointed a liquidator to Craig McDermott's company, MAXEN DEVELOPMENTS PTY LTD (ABN79093675006). The company was wound up over failure to pay $48,000 owed to the Metropolitan Fire & Emergency Services Board.
McDermott/Maxen allegedly owed more than $40,000,000, including $22,000,000 to Bridgecorp, $10,000,000 to City Pacific and $121,000 to architect Lachlan Henderson, while former delivery driver Terrence O'Brien and his wife Janice alleged that McDermott used $625,000 that was invested in the company for "personal purposes". On 12 June, Craig McDermott filed for bankruptcy.
In September, it was revealed McDermott's 3rd wife intended to sue him for allegedly refusing to pay child support.
Cricket legend Allan Border and Brisbane Broncos identity Barry Maranta, along with Rod Petricevic of Bridgecorp, have all been associated with McDermott either as directors of Maxen or directors of other entities related to Maxen & its projects at Bagara Beach Estate near Bundaberg and Fraser Waters at Hervey Bay.
Craig McDermott drives a black Porsche Carrera and lives in a luxury 1092 cubic metre Gold Coast waterfront home which McDermott described as "might be a bit squashy". The property, understood to be owned by McDermott's third wife Ann-Maree, is currently for sale for offers over $10,000,000.
Read more about this topic: Craig McDermott
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