PM Submission - Thomas Kearney - MCU18/0015

                                            hotcopper.com.au



The units, all previously owned by Mr Harding before Ernst and Young secured control on
behalf of the bank last year, are under contract. Propertylink, believed to be Sydney-based, is
the buyer. Mr Harding, an avid art collector, was previously reported as saying he wanted to
make the project "a living work of art" and agreed to lease back the units in the resort.




However, he infuriated individual unit owners in the complex after they were hit with rate
payments and body corporate fees that Mr Harding, who at the time was the hotel's part
owner, did not pay.


It is understood the management rights of Noosa Blue Resort's hotel were still in the hands of
Ernst and Young and are yet to be sold.


Mr Harding, who is the former head of Tourism Noosa and a former chairman of Tourism
Sunshine Coast, has also lost control of a Noosa Heads development site and his farm.


These have been sold by receivers at severely discounted prices. Debts of about Si 5m were
owed to Bank West on his property portfolio.