John McGrath has revealed Sydney lawyer Andrew Robinson wil be one of the two two new directors who will join the board of his struggling listed real estate business McGrath (ASX: MEA) tasked with the job of turning the company around. The other appointee is Peter Lewis, Kerry Stokes’s former chief financial officer, who…
JOHN McGrath has denied his gambling debts are out of control or in any way linked to his stake in his embattled real estate business. Shares in McGrath Ltd were placed in a trading halt on Thursday as the company sought further information from its founder related to recent media reports about Mr McGrath, who…
Controversy surrounding McGrath Real Estate (ASX: MEA) founder John McGrath’s alleged $16 million gambling debt has been addressed by McGrath himself in a letter to the ASX. The statement, released to the ASX by McGrath Real Estate, sees McGrath denying the claim that he has been using company money to fund his expensive…
John McGrath has denied his gambling debts are out of control or in any way linked to his stake in his embattled real estate business. Shares in McGrath Ltd were placed in a trading halt on Thursday as the company sought further information from its founder related to recent media reports about Mr McGrath, who…
Embattled real estate business McGrath says it is seeking urgent clarification from founder John McGrath over media reports alleging gambling-related debts and borrowing so that the company can update the market. McGrath went into a trading halt on Thursday ahead of an announcement it said would relate to recent media reports about Mr McGrath. The…
Embattled real estate agency McGrath will release a statement by Monday addressing recent media speculation about incoming executive chairman and founder John McGrath. The company requested a trading halt on Thursday morning, after delaying a conference call with media and analysts to discuss its half-year results. Real estate identity John McGrath has been in the…
It’s been more than a year since Mitchell Spiteri placed a bet, but there was once a time when his life was ruled by gambling. Key points: As of February 17, laws banning gambling companies from giving credit to people will come into effect Banks still able to provide credit to gamblers via credit…
The ASX is reviewing claims made by real estate giant McGrath disputing speculation its Rich Lister founder John McGrath has a $100 million margin-lending facility attached to his shares in the publicly listed company Details of the loan emerged on Friday after the company told the stockmarket on Thursday night that the multimillionaire had never…
In a statement to the ASX on Friday, John McGrath has denied the existence of a $100 million lending facility that allegedly is funding his expensive gambling habit. Over the weekend it was reported that real estate mogul John McGrath is $16.2 million in debt to gambling. Fairfax Media reported that McGrath…
Source: smh.com.au Embattled real estate company McGrath Limited has found itself in even more trouble, following rumours that founder and incoming chairman John McGrath has a huge gambling debt. McGrath ended Fridays session with a share price of $0.46 cents. The price had already taken a tumble upon news that the McGrath Board had quit…