Bob Day could lose home to creditors as High Court to rule on Senate re-election
EXCLUSIVE: Creditors have lodged caveats against former senator Bob Day’s family home, but fear they will get back little or nothing they are owed when the property is sold.
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FRUSTRATED creditors have lodged legal caveats against former building tycoon and senator Bob Day’s family home, but fear it is a futile “pie in the sky” bid to recoup money they are owed when the property is sold.
Mr Day also faces the prospect of being ordered to repay his parliamentary salary and superannuation to the Federal Government if the High Court rules his re-election last year was invalid.
Twenty-two caveats have been filed against Mr Day’s Houghton house, but many creditors say they expect they will get back little or nothing of what they are owed by Mr Day and his building companies. The caveats declare that the creditors have an interest in Mr Day’s property.
Mr Day last year resigned from his position as the only Family First senator in Parliament after his building businesses were placed into liquidation with an estimated $37.8 million worth of debts.
Some of the businesses which have lodged caveats on the house are owed hundreds of thousands of dollars. The creditors include Adelaide timber supplier Timco, which is owed about $95,000.
Timco founder Geoff Easom said he suspected that the caveats were “pie in the sky” and the company would not be paid what it was owed.
“My gut instinct is we won’t get there. There plenty of people in front of us ... we had personal guarantees from Bob Day,’’ Mr Easom said.
“It would be great if he could raise something from the ashes and pay some people back. But I’m not hopeful.’’
Mr Day declined to comment when contacted by The Advertiser. He has previously said that he expects to lose his house and plans to pay back as much of the money he owes as possible.
The full bench of the High Court, sitting as the Court of Disputed Returns, will on Tuesday hear argument about whether Mr Day’s re-election to the Senate in July was invalid due to a conflict of interest.
The Federal Government and former Labor senator Anne McEwen argue that Mr Day’s links to the company which owned his taxpayer-funded electorate office in Kent Town breached conflict-of-interest provisions in the constitution.
The court last week ruled former One Nation senator Rod Culleton’s election to the Senate was unconstitutional. The ruling means that Mr Culleton will be pursued for repayment of his salary and superannuation, unless the Government waives the debt.
Senator Day could be in the same position if the court rules against him. Senators receive a base salary of $199,000 with 15.4 per cent super.
Mr Day’s former Senate seat remains vacant until the High Court case is finalised.