A $3m ini­tial dis­tri­b­u­tion” pay­ment to be shared between 55 investors was announced in August by account­ing firm Jones Partners.

Michael Hayter, the solic­i­tor act­ing for the receivers, told the court at the time that one pair of Chris­t­ian Dior sneak­ers pur­chased by Ms Cad­dick could be worth approx­i­mate­ly $12,000, if it was still in mint condition. 

On Mon­day morn­ing, Mr Hayter told Jus­tice Brigitte Markovic that the receivers had come to an agree­ment with the fam­i­ly for Caddick’s son to retain some of the sneak­ers from the collection.

Mr Hayter said that he would be allowed to keep the sneak­ers worth less mon­ey, while the receivers would sell off the more high-end footwear.

A deal has been done with (Caddick’s hus­band Antho­ny Kolet­ti) on behalf of (Caddick’s son) that the (son) retain half of the less­er-val­ue sneak­ers and the receivers will then realise the high­er net worth val­ue sneak­ers,” Mr Hayter told the court.

The court heard that two super­an­nu­a­tion accounts in Caddick’s name — each con­tain­ing approx­i­mate­ly $30,000 each — would be recov­ered to pay back investors.

Mr Hayter told the court that one of the super funds had been topped up using ill-got­ten investor funds.

To read the full arti­cle click here


If you would like to repub­lish this arti­cle, it is gen­er­al­ly approved, but pri­or to doing so please con­tact the Mar­ket­ing team at marketing@​swaab.​com.​au. This arti­cle is not legal advice and the views and com­ments are of a gen­er­al nature only. This arti­cle is not to be relied upon in sub­sti­tu­tion for detailed legal advice.

Publications

Work­place Rela­tion­ships: The Legal Posi­tion (Cold­play Con­cert Edition)

The recent sto­ry of col­leagues (a Chief Exec­u­tive Offi­cer and Chief Peo­ple Offi­cer (CPO)) whose appar­ent rela­tion­ship was cap­tured on…

Dis­missal for Dissent?

The recent unfair dis­missal deci­sion of the Fair Work Com­mis­sion, Shaun Turn­er v Dare­bin City Coun­cil [2025] FWC 1763, in which Deputy…

Con­struc­tion con­tract time­frames and their inter­ac­tion with the NSW Secu­ri­ty of Pay­ment legislation.

Mark Glynn, Con­struc­tion Part­ner at Swaab con­sid­ers the recent deci­sion of Shar­vain Facades Pty Ltd (Admin­is­tra­tors Appoint­ed) v Roberts Co (NSW)…

In the News

Michael Byrnes appeared on Break­fast with Tim Web­ster on 2SM on 23 July 2025 to dis­cuss work­place rela­tion­ships and that Cold­play concert

Michael Byrnes appeared on Break­fast with Tim Web­ster on 2SM on 23 July 2025 to dis­cuss work­place rela­tion­ships and that…

Michael Byrnes is quot­ed in the arti­cle, Cold­play con­tro­ver­sy expos­es HR vul­ner­a­bil­i­ty in lead­er­ship rela­tion­ships”, pub­lished in HR Leader on 23 July 2025

Michael Byrnes is quot­ed in the arti­cle, ​“Cold­play con­tro­ver­sy expos­es HR vul­ner­a­bil­i­ty in lead­er­ship rela­tion­ships”, pub­lished in HR Leader on…

Michael Byrnes’ arti­cle 7 com­mon ques­tions about work­place rela­tion­ships”, was pub­lished on HRM Online on 22 July 2025

Michael Byrnes’ arti­cle ​“7 com­mon ques­tions about work­place rela­tion­ships”, was pub­lished on HRM Online on 22 July 2025To read the full…

Sign up for our Newsletter

*Mandatory information