“These funds, based on the information available, appear to have been put towards the following properties owned by these related entities,” the administrators’ report said.
“We note that the transactions identified constitute unreasonable director related transactions, and we have secured our equitable interest in the above listed properties by way of caveat.”
One of the companies, Primaria Investments, owned Mr Terrill’s house in Brighton, a four-bedroom property 10-minutes walk to the beach, with two office spaces and an 18-metre lap pool. The property was purchased for $3.6 million in March 2019.
Mr Tirrell’s home in Kilrush St, Brighton featured an 18-metre lap pool.
Remi also issued money to a Terrill company that owned two retail spaces in Clarence St, Bentleigh.
The spaces related to a previous property project Mr Terrill was involved in before he established C2 Capital (Remi’s former name) in 2018.
A key investor in that project told The Australian Financial Review Mr Terrill purchased the two spaces for $200,000 each in mid-2016 but paid for them by borrowing money from non-bank lender Balmain at high rates.
Jirsch said it had reported what it believed may constitute multiple offences committed by the director for each of the Remi companies to the ASIC, including insolvent trading and reckless or intentional dishonesty.
The concerns raised by the administrators are part of preliminary investigations and The Australian Financial Review does not suggest…
