Billionaire Pratt alleges ex-husband loaned himself money for luxury apartment, new fiancee’s pop music career
Billionaire Heloise Pratt has claimed Alex Waislitz took more than $21m in loans to buy a luxury apartment and back companies connected to his new fiancee’s music career.
Billionaire heiress Heloise Pratt has accused ex-husband Alex Waislitz of taking more than $21m in loans to buy a luxury Melbourne apartment and also use funds to purchase property for his fiancee and back companies connected to her music career.
Ms Pratt has alleged Mr Waislitz authorised transfers of $20m to buy an apartment in the Saint Moritz project, built by prominent rich lister Tim Gurner, from their shared company Tiga Trading and subsidiaries without her approval and knowledge, even though she is a director, latest court documents in an ongoing legal stoush reveal.
Mr Waislitz is also accused of spending about $1.23m from the same company on two units in the exclusive suburb of Toorak occupied “rent free” by his now fiancee Rebekah Behbahani and her sister Venous (Venus).
Ms Pratt alleged Mr Waislitz loaned money to a company called “Behani Music Production” and “RB Noms” which trades as Flytime Promotions, likely in support of Ms Behbahani’s pop music career.
The documents, obtained by The Australian from the Victorian Supreme Court on Monday, are the latest in a messy legal fight playing out in public after negotiations about ownership of their jointly owned $1.3bn Thorney Investments business broke down last year.
“Whilst Alexander Waislitz has either alone or with (an advisor) exercised de facto control over the Halex Family Trust … Alexander Waislitz has … acted dishonestly for his own benefit and engaged in criminality,” an updated statement of claim alleged.
Ms Pratt claimed Mr Waislitz “regularly and without explanation held board meetings of TIGA, TIGA Trading, Thorney Omega Pty Ltd and TIGA Property Pty Ltd without giving notice of those board meetings”.
She claimed Mr Waislitz allowed subsidiaries of the Halex Family Trust to be “managed for his own benefit or for the benefit of third parties” and alleged the loans were “undocumented, unsecured and not for the benefit of either TIGA Trading or the Halex Family Trust”.
The case is set to go to trial in early September.
Ms Pratt sensationally accused Mr Waislitz in the Supreme Court of Victoria late last year of engaging in criminality and acting dishonestly by paying himself and his charitable foundation $1.147m without her knowledge and approval.
Mr Waislitz was also accused of withholding board documents and other financial information from Ms Pratt. Mr Waislitz runs the $1.3bn investment house Thorney, which is jointly owned by him and Ms Pratt, and other related companies such as TIGA Trading.
The latest allegations by Ms Pratt — contained in an updated statement of claims lodged with the Supreme Court late last week — centre around money allegedly advanced from subsidiaries of Ms Pratt and Mr Waislitz’s Halex family trust, including TIGA entities.
She has said the loans were for Mr Waislitz’s “benefit” and without the knowledge of Ms Pratt.
“I am confident the legal system will confirm that I have done nothing improper in relation to my corporate or private financial dealings. We have requested the Court hears this matter at the earliest opportunity,” Mr Waislitz said in a statement provided to The Australian.
“All intercompany loans have been properly accounted for and I repeat my assertion that Heloise left the running of Thorney to me.
“It is worth noting that we separated over a decade ago and we have both moved on to new lives with our respective partners. As you know, I share a five-year-old daughter with my fiancee, Rebekah. I continue to lovingly support her music career which is growing successfully. It is our intention to marry.
“It is business as usual at Thorney and the team is understandably busy having just managed another ASX reporting season.
“With respect to the parties impacted by this action I will not be providing further comment at this time.”
Ms Pratt alleged about $20m was advanced to Mr Waislitz to buy a luxury penthouse apartment in Mr Gurner’s $580m Saint Moritz project, built across the road from the beach in Melbourne’s St Kilda.
“The TIGA Trading Advances include advances totalling $20 million made to Alexander Waislitz for the purpose of his acquiring a residence on 18 October 2023 … of the St Moritz Apartments,” the court documents claim.
Separately, Mr Waislitz is in dispute with Mr Gurner about the apartment and said he would consider backing a class action against Mr Gurner over alleged defects in the property.
Mr Waislitz revealed to The Australian in January he was not on speaking terms with Mr Gurner. Instead, Mr Waislitz is now dealing with former Australia Post boss and one-time NAB executive Ahmed Fahour, who joined Gurner Group as chief executive last year.
Mr Waislitz has also been accused by Ms Pratt of holding a board meeting for an entity called TIGA Property Pty Ltd, in March 2022 — to which she, despite being a director, was not invited — and resolving for it to buy two Toorak units from Property Force Ventures Pty Ltd, a company owned by Mr Waislitz.
“The underlying assets of the Grange Road Unit Trust, (in) … Toorak were at the time being occupied by Rebekah Behbahani and her sister Venus rent free,” court documents allege.
Separately, Mr Waislitz is also facing a messy legal fight from his new girlfriend’s sister, Venus Behbahani — a former Real Housewives of Melbourne reality television personality.
Venus Behbahani is suing Mr Waislitz over one of the Toorak units, which she claimed was promised to her after helping launch her sister’s singing career, assisting her through a brief break-up with Waislitz.
Ms Pratt’s third accusation against Mr Waislitz relates to money advanced to and used for the benefit of several companies linked to Rebekah Behbahani, including Behani Music Production, RB Prods and RB Noms and Dood Industries Pty Ltd.
There is also an accusation that some money was used for the benefit of KidsDocOnCall, a telemedicine business owned by Venus Behbahani and her husband. Mr Waislitz has since sought a liquidator to be appointed to KidsDocOnCall’s parent company.
Ms Pratt and her billionaire siblings Anthony Pratt and Fiona Geminder are facing a separate legal fight in the NSW Supreme Court from their half-sister Paula Hitchcock, who is seeking an equal slice of the family’s trust.
Ms Hitchcock is the love child of Richard Pratt and Shari Lea Hitchcock and has accused the Pratt siblings, who own the Visy cardboard box making and recycling empire, of unfairly cutting her out of the family trust.
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