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Solomos’ company accounts have been used for $5000-a-week pocket money, to make mortgage payments on his property portfolio, to fund more than $30,000 a week in payments to his ex-wife and to give luxury cars to senior staff. Sale documents show the outer-suburban properties are being offered vacant to prospective buyers, with expressions of interest due by December 4. They are being rushed to market under the instruction of receivers, Rodger Reidy, who were appointed in September by debt-chasing lenders. A source with knowledge of the sale, who was not authorised to comment publicly, said the properties were expected to fetch a total of $30 million. However, it’s unlikely that earnings from the sale would meaningfully assist Derrimut in repaying its spiralling debts to the tax office, staff and hundreds of business and landlords.
