Just weeks after losing a lengthy legal fight to hold on to the Thirroul Beach Motel, Kosta Dimitrovski is now set to lose his northern suburbs home.
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Mr Dimitrovski, who was declared bankrupt last month, has been ordered to hand over the keys to his Thirroul property after he defaulted on the mortgage and a $1-million loan agreement.
Justice Michael Slattery made the decision in the Supreme Court on May 27, giving Perpetual Trustee Company, which held the mortgage, the green light to take Mr Dimitrovski's home. No costs were sought.
The Thirroul resident has just 28 days to find a new place to live.
The latest order comes a mere month after Mr Dimitrovski and his son George, former owners of the Thirroul Beach Motel, lost a last-ditch attempt to hang on to the popular hotel. The pair had spent nearly two years challenging the Land and Environment court's decision to hand the 20-room motel over to Australian Executor Trustees Limited (AET) after they defaulted on the mortgage.
In the latest decision, Justice Slattery said he was satisfied Perpetual Trustee Company was entitled to possession of Mr Dimitrovski's home after he failed to meet his mortgage and a $1-million loan agreement.
Mr Dimitrovski had made the loan arrangement with Fidante Partners Limited on January 30, 2008, putting up his house as security.
He had three years to pay back the money.
But when the loan expired on February 1, 2011, the money had not been repaid.
"Perpetual's ledgers, evidence and the served default notices all support the conclusion that the principal was not repaid on February 1, 2011, and indeed, is still outstanding," Justice Slattery said.
The court was told some interest payments had been made but no repayments had been received since at least May 1, 2011, despite Mr Dimitrovski being served with default notices.
Mr Dimitrovski, who was not at the court hearing, told a man who served him with notice of Perpetual Trustee Company's plans to take the house on August 15, 2011: "I don't want this to happen."
He told the man he was the only person living at the home but said his daughter stayed occasionally.
Neither Perpetual Trustee Company or Fidante Partners sought costs or a monetary judgment
The Dimitrovskis were also directors of Thirroul Property Holdings, former owners of Austinmer's troubled Headlands Hotel.
Thirroul Property Holdings went into receivership in 2011 owing more than $16 million.
The Headlands Hotel remains on the market.