Boxing protege turns $1m debt collector

 

 

The young daughter of a veteran Queensland boxing promoter is suing two companies linked to a former high-flying Ipswich developer alleging they failed to repay loans worth $938,000.

Negotiations Pty Ltd, a company owned by 25-year-old Bond University law student Presley Belle Ericksen, from Bundall on the Gold Coast, alleges in two District Court claims that two companies linked to George Anthony Cheihk, 51, from Westlake, failed to repay loans.

Ericksen, is the daughter of boxing promoter Mark Andrew Ericksen, 68, from Bundall and she works for her father's fight promotion company Pacific Promotions.
She says on the company's website that she aspires to be a judge by the age of 50.

Cheihk was formerly linked to disgraced former Ipswich mayor Paul Pisasale.
His former high-profile development company QLD Group was a sleeve sponsor of the Brisbane Bronco's NRL team and the North Queensland Cowboys.

According to a claim filed in the District Court in Brisbane, George Cheihk's company Riverview Property Holdings (Qld) Pty Ltd (Riverview) owes Ms Ericksen's company $748,012.

Cheihk's business affairs were examined by the Crime and Corruption Commission as part of its probe of Ipswich council and Paul Pisasale, but he has not been charged with any offence and the CCC didn't make any adverse findings against him.

Cheihk's company, Riverview, owns a 40ha site earmarked for a 366-lot housing estate in the Ipswich suburb of Riverview.

Boxing promoter Mark Ericksen. Picture: Supplied
Boxing promoter Mark Ericksen. Picture: Supplied

Property records show the site was put on the auction block last year as a mortgagee sale, but failed to sell.

It purchased the site seven years ago from the Queensland branch of The Scout Association for $671,000, the property records show.

Negotiations Pty Ltd alleges in its District Court claim that it demanded Riverview pay the debt in a written demand in June, but Riverview has "failed, refused or neglected" to pay.

Riverview initially borrowed the $300,000 from a company owned by developer Bob Trask in August 2014, but after Riverview allegedly defaulted on the loan, Negotiations Pty Ltd stepped in and purchased the debt in May this year, the claim states.

Negotiations is also suing a second company linked to Mr Cheihk over another loan in a separate District Court suit.

Former mayor Paul Pisasale with developer George Cheihk. Picture: Supplied
Former mayor Paul Pisasale with developer George Cheihk. Picture: Supplied

The company is suing GAC Holdings (Qld) Pty Ltd (GAC) for $190,486 alleging GAC borrowed the money from a company owned by Bob Trask, 61, from Labrador, in December 2015 and failed to repay it.

Negotiations alleges it obtained rights to the debt from Mr Trask's company in May 2020.

GAC, which owns four blocks of residential land in the Ipswich suburb of Collingwood Park, has been owned by Lebanon-born Con Bassili, 50, from Sumner since January.

GAC was previously owned by Mr Cheihk.

The Collingwood Park land was put up for sale by the mortgagee last month, property records show.

Cheihk is the former owner of a riverfront trophy home at Fig Tree Pocket now owned by billionaire Clive Palmer.
When his property companies were doing well, more than a decade ago, they donated more than $600,000 to Liberal and Labor.

He used to drive a Lamborghini and he purchased a building which houses Switch Nightclub in Ipswich's CBD.

No defence to the claims has been filed in court and no hearing date has been set.

Originally published as Boxing protege turns $1m debt collector



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