Arthur Laundy and sister Robyn De Angelis battle in court over pub money
A civil war has broken out in one of Sydney’s most wealthy and influential families. See what it’s all about.
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Exclusive: A civil war has broken out inside the $1.4bn Laundy pub dynasty, with the head of the family empire accused of enriching himself at the expense of his wealthy sister.
Arthur Laundy is being sued by his sister Robyn De Angelis, who claims the 84-year-old pub titan defied their late mother’s wishes by manoeuvring to shrink her earnings from the family’s Bass Hill pub, The Twin Willows Hotel.
The explosive allegations were included in Ms De Angelis’ statement of claim that she filed in the Federal Court of Australia five days before Christmas.
Mr Laundy has strongly refuted his 78-year-old sister’s allegations in a defence statement filed with the court.
The Laundys are among Australia’s most successful business dynasties whose internal feuds have spilt into the public arena.
Ms De Angelis claims Mr Laundy leveraged his position atop the family’s corporate hierarchy to transfer 30 of the pub’s lucrative poker machine licences out of a holding company, known as Laundy Trading, that she owns a 25 per cent share in.
She also claims that her brother – who owns the remaining 75 cent of the holding company – then moved the licences to another company, Laundy Enterprises, of which he is the sole shareholder.
Ms De Angelis also claims her brother slapped her company with massive expenses.
This included a $2 million annual lease for the pub and a $270,000 wage for Mr Laundy acting as its general manager.
Ms De Angelis is suing Arthur for “compensation” and claims he breached the wishes of their late mother by running the business for his own benefit, rather than in the interest of both siblings.
Mr Laundy strongly disputed his sister’s allegations.
The pub boss denies betraying his mother’s wishes and claims the business moves were aimed at correcting a set up that had operated for years with “a degree of informality”.
He claims the company Ms De Angelis holds shares in “never held any poker machine entitlements”.
His document said he began charging his sister’s company $2 million in July 2015 to “formalise” operations. He also wrote rent had not been charged since their father, Arthur Snr, died in 1969.
Mr Laundy also claimed his sister had “no standing” to seek a compensation order on behalf of the holding company.
Arthur and Robyn’s parents, Arthur Snr and Veronica, founded the business in 1945 with the Sackville Hotel at Rozelle. Laundy Hotels is now an empire of more than 40 venues worth $1.75 billion and is the major sponsor of the Canterbury Bulldogs.
In 1964, the family bought land at Bass Hill and built the Twin Willows Hotel.
Ms De Angelis says in her documents that the pub is operated by the two holding companies that she and Mr Laundy own shares in.
Prior to their mother’s 2012 death, Ms De Angelis claims there was a “common understanding” between Veronica and her children that the two companies would operate to advance “the overall business of the Twin Willows Hotel” rather than their individual interests.
She claims in her statement that Mr Laundy breached the understanding by manoeuvring to send a greater proportion of the hotel’s profits to the company in which he owns 100 per cent of the shares.
Mr Laundy denies “the existence of the alleged common understanding”.
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