The Daily Examiner on 10 October 2012:
ASSETS worth millions of dollars, including the Maclean Hotel, Maclean retail shops and two major subdivisions at Gulmarrad, are being liquidated by receivers looking to recover debts incurred by companies previously under the control of Maclean developer and Clarence Valley councillor Andrew Baker.
Three advertisements appeared in the Sydney Morning Herald on Saturday and more advertising is being booked in publications in Brisbane, the Gold Coast and the Clarence Valley.
The Daily Examiner has advertisements booked for the next three Fridays….
Cr Baker said there had been no change in his financial situation since the Daily Examiner story on August 20.
When asked if this financial situation increased the risk of a by-election, he said it was not related to his position on council.
Not related to his position on council? A statement possibly open to interpretation, given that Clarence Valley Council itself was one of the unsecured creditors of Maclean Hotel Holdings Pty Ltd (apparently solely owned by Cr. Baker) listed as of 20 August 2012.
Council being owed $3,753.09 of the $81,523.62 in unsecured debts.
Council being owed $3,753.09 of the $81,523.62 in unsecured debts.
Excerpt from Australian Securities and Investment Commission document Report as to affairs From Controller Under S.429(2)(C) (507F):
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