OnlyFans model Isabelle Eleanore fears bankruptcy at father’s hands
An ugly development has unfolded in the legal battle between OnlyFans model Isabelle Eleanore and her estranged father over a $3.5m property in the elite Melbourne suburb of Toorak.
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OnlyFans model Isabelle Eleanore faces bankruptcy at the hands of her estranged father if she has to pay him $1.5m he spent pursuing her in a bitter family legal dispute, a court has heard.
The Gold Coast-based influencer is appealing against a court ruling won by her father, Peter Szwarcbord, and companies he controls, over control of a luxury apartment worth $3.5m in Melbourne suburb Toorak.
Mr Szwarcbord and the family companies have written to Isabelle demanding she pay the $1.5m, her barrister, Nicholas Frenkel, told the Victorian Court of Appeal on Wednesday morning.
Mr Frenkel said that if Isabelle doesn’t agree to pay the lump sum the costs Mr Szwarcbord will have an expert “tax” the costs by preparing a detailed bill and sending it to her.
“If costs were taxed, my client wouldn’t be in a position to pay that, and her father could bankrupt her,” he told the court.
He said Isabelle had the ability to “earn significant amounts of money”, but also spent heavily on “discretionary” items.
The influencer has previously showed off her collection of designer handbags in Youtube videos.
She and her husband, Jeremy, live in a canalside mansion and have repeatedly posted images of their luxurious lifestyle to Instagram.
Last month she went into hospital for a breast reduction.
“Time to say toodleoo to the tata’s,” she posted on Instagram.
“She’s recently had an operation and that will cause her difficulty earning income,” Mr Frenkel said.
“The recovery will take two to three months.”
The long-running dispute centres on who is the rightful owner of the $3.5m Toorak property, an apartment built by the family’s property development business.
Isabelle was registered as the owner on official paperwork but the property was paid for using money from family trusts.
Mr Frenkel argued that Isabelle should also not have to pay costs into court as security for the appeal hearing, which is set to take one day, because the case raised important issues.
He told the court that, as a result of the transaction, the family business didn’t pay land tax for six years that would have been paid if the trusts had been registered as the owners of the Toorak pad.
In November, County Court judge Paul Cosgrave found that Mr Szwarcbord’s companies were the true owners of the property. He ordered the property sold.
On Wednesday morning, Mr Frenkel told the court the purpose of buying the property in Isabelle’s name “was to minimise taxation”.
“The documents submitted to the ATO were clearly false,” he said.
“But the effect of the judgment is: that’s no problem, you can fix it up.”
“In my submission it’s a matter of public importance concerning unlawful business practices and mis-statements to taxation authorities.”
Counsel for Mr Szwarcbord and his companies, Melbourne Rebels board member Tim North KC, said Judge Cosgrave dealt with the allegations in his November judgment, which made no findings against his clients.
He said his clients wrote to authorities following the judgment to correct the record.
“We notified them immediately,” he said.
Judges David Beach and Rowena Orr ordered Isabelle to pay $98,000 into court by June 30 to cover the expected costs of the appeal hearing.
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Originally published as OnlyFans model Isabelle Eleanore fears bankruptcy at father’s hands
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