FORMER high-flying real estate agent Anthony Di Nardo has placed 13 companies in the hands of a liquidator, as he winds up his Hunter-based luxury Belle Property real estate empire.
A Newcastle Herald investigation can reveal this is the second time in eight years that Di Nardo has called in liquidators to wind up 15 companies.
In July 2018, he liquidated companies known as McGrath Lake Macquarie and McGrath Hunter Valley, which owed $801,755 to 13 unsecured creditors, including more than $730,000 to the Australian Taxation Office (ATO).
Creditors of the two companies received nothing.
It is unknown at this stage how much is owed by the 13 companies placed in liquidation last week.
The latest liquidations come after NSW Fair Trading ruled in May that Di Nardo was not a "fit and proper person" to hold a real estate licence, following an investigation by the regulator that found he "engaged in a pattern of inappropriate behaviour".
The penalty means the 54-year-old cannot operate as a real estate agent, which scuttles plans he had to relaunch under a new brand after he was ousted by Belle Property late last year.
Just days after the regulator revoked his licence, Di Nardo contacted liquidator Sule Arnautovic, of Salea Advisory, who was officially appointed to wind up the 13 companies late last week.
Mr Arnautovic is the same liquidator Di Nardo used in 2018 when he closed two McGrath franchises and moved to Belle Property.
The latest companies being liquidated are ZCT Property Management Cessnock, ZCT Sales Cessnock, ZCT Sales Charlestown, ZCT Sales Hunter Valley, ZCT Sales Newcastle, ZCT Sales Port Stephens, DRE Group, Hunter Region PM, Hunter Region Sales, TRE Investments Group, ZCT Escapes, ZCT Property Management Newcastle and ZCT Property MGT Port Stephens.
According to documents filed with ASIC, Di Nardo was initially referred to the liquidator by Paul Siderovski's Newcastle-based accounting firm, SiDCOR, on May 12, and last week the fallen real estate boss contributed $130,000 towards the cost of the liquidations.
It is the second time Di Nardo has voluntarily called in Mr Arnautovic to wind up his real estate businesses.
In July 2018, he liquidated TAD Investments Group, trading as McGrath Hunter Valley, and A&D Investments, trading as McGrath Lake Macquarie. Again, Di Nardo was referred to the liquidator by SiDCOR.
At the time, McGrath Lake Macquarie failed, owing $314,817 to the ATO, $1180 to icare and $5445 to SiDCOR.
The liquidation was finalised in April 2020, and seven unsecured creditors owed $353,637 received nothing.
According to a statutory report by the liquidator, in the days before he was appointed, McGrath Hunter Valley and its assets were sold for $113,587 to another Di Nardo company, ZCT Sales Charlestown, also known as Belle Property Lake Macquarie. It was one of the 13 companies placed in liquidation last week.
The sale price included $50,000 for goodwill, $110,000 for plant and equipment and $36,445 for commissions not yet received.
The $113,587 was used to pay off some of McGrath Hunter Valley's debts, including employee entitlements, superannuation, and a Commonwealth Bank loan.
"I have been provided with a copy of the sale agreement and a copy of the independent asset valuation conducted by Slattery Asset Advisory for the purposes of the sale," the liquidator's 2018 report reads.
"On the face of it, the business and its assets appear to have been sold for market value; however, I will not be able to confirm this with certainty until I receive further information from the director."
When it was liquidated in July 2018, McGrath Lake Macquarie had $102 in the bank, and its only other asset was listed as $35,000 in "settlement proceeds" from legal action taken against a debtor.
Five unsecured creditors were owed $448,118, including $422,858 to the ATO and $10,725 to SiDCOR, but again, there was no return for creditors.
According to a liquidator's statutory report from October 2018, McGrath Lake Macquarie was also sold to Belle Property Lake Macquarie days before the liquidator was appointed.
The sale price was $624,380, including $240,000 for goodwill, $200,000 for plant and equipment and $184,380 for commissions not yet received.
The statutory reports for both failed McGrath companies identified "insolvent trading" and "uncommercial transactions" as possible avenues for creditors to recover money.
Di Nardo was arrested by police in December, accused of using his "position of power" as a business owner to sexually and indecently assault five former female staff members over 16 years.
Police charged him with five offences following a Newcastle Herald investigation that revealed allegations of sexual assault and harassment against female staff dating back decades, which he denies.
He has not yet entered pleas to charges of sexual intercourse without consent, sexually touching without consent, two counts of indecent assault, carrying out a sexual act with another without consent, and stalking.
Defence solicitor Drew Hamilton told Newcastle Local Court in December that "this is going to be a defended trial".
In his 24-year real estate career, Di Nardo has won multiple accolades and was recognised as one of the highest performers in the industry.
He was listed at number 47 in REB's (Real Estate Business) national top 100 agents last year.
In late 2022, Di Nardo set the record for the most expensive home sale in Lake Macquarie, a palatial property at Speers Point that sold for $10 million.
