News

Lender in $500,000+ claim

PROMINENT property identity John Doherty is being pursued by a finance company for more than half a million dollars used to buy thoroughbred racehorses.

Documents lodged in the Supreme Court of Queensland show Westlawn Finance Limited has lodged a claim against Mr Doherty and his partner, Janette Gilchrist, after financing their former business, Secret Hill Thoroughbreds.

The statement of claim seeks $511,124.79 from the couple, including $510,302.03 in outstanding loan payments, and more than $70,000 in interest accrued since June 30 last year, plus costs.

It states Mr Doherty and Ms Gilchrist started their thoroughbred breeding operation on or about January 1, 2007, with the business name removed in November 2010, "the reason of which remains within the knowledge of the defendants".

Defaulted loan payments between July and December 2011 led to Westlawn seeking the full payback of its lendings under the terms of a Bloodstock Loan Agreement.

The matter is yet to be finalised by the Supreme Court, with Westlawn having requested more information about Mr Doherty and Ms Gilchrist's defence on June 4.

Their Beaudesert horse complex Secret Hill Farms is on the market, having been bought by the couple for $4.6 million in July 2009.

The property includes a 1400m sand and grass training track, stables, breeding barn and horse hospital, and staff and guest quarters.

Mr Doherty was unavailable for comment by the time of printing of the Daily News yesterday.

Topics:  john doherty, property, supreme court of queensland, thoroughbred racehorses, warwick, westlawn finance limited


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