He was sued by racing royalty, helped Brendan Fevola and was the target of a murder plot, but four companies owned by a controversial developer have gone bust.
He was sued by racing royalty, helped Brendan Fevola and was the target of a murder plot, but four companies owned by a controversial developer have gone bust.

Four companies bust as colourful developer goes bankrupt

A CONTROVERSIAL property developer who has been sued by racing royalty, helped bankrupt Brendan Fevola and who has been stalked over a business dispute has put his companies in liquidation.

Clayfield developer Luciano Menniti is the bankrupt former director of Menniti Holdings, Tradit, Torino Trading and Menniti Constructions, which were put into liquidation on December 20.

Mr Menniti, 64, once tipped to be worth millions, was declared bankrupt in July 2019.

Tradit and Torino Trading owe $2.2 million, including $1.8m to National Australia Bank over a bungled property development in Tasmania.

Menniti Constructions owes $15,000 to the Australian Taxation Office and $1000 each to two other creditors.

Menniti Holdings Pty Ltd was registered in 1999 and operated a motel before it was sold in the 2014-15 financial year.

Lou Menniti at the Mick Gatto Bushfire Appeal in 2009.
Lou Menniti at the Mick Gatto Bushfire Appeal in 2009.

Mr Menniti's son Matthew Allan was appointed director to the two Menniti-named companies earlier this year to finalise their affairs.

In 2014 Mr Menniti was sued by bookmaker Robbie Waterhouse, wife of Gai, for more than $500,000 in gambling debts.

At the time Mr Menniti said he'd racked up the debts by putting bets on for other people, and confirmed a settlement for the debt had been reached.

Mr Menniti was in court a year earlier when he bankrupted AFL player Brendan Fevola over a $13,000 debt.

The Italian-born businessman was also part of a police sting which busted a man outside his Clayfield home who police originally alleged had planned to kill him over a dispute related to his Tweed Heads fish and chip shop.

Joe Palermo was charged with conspiracy to murder but pleaded guilty to a lesser charge of stalking with violence while possessing a weapon, for which he served eight months in jail.

Liquidator David Hambleton, appointed to wind-up the companies, is investigating "a possible claim" of an unreasonable director-related transaction.

"I will assess the commerciality of investigating and pursuing this claim once sufficient books and records come to hand," Mr Hambleton reported.


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