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Skip to contentm88明升开户夜网,m88明升开户桑拿论坛,m88明升开户夜生活网 Powered by Bonasbag!Primary MenuPopular NewsSearch for:Jul 282019Business v the familyJul 282019Nathan Tinkler and the retail king Gerry NormanJul 282019Why Melbourne’s train network melted down yet againJul 282019Game of Thrones stars at season 7 premiereJun 192019Dracula in charge of the blood bankJun 192019Pay for your own ad ‘spin’: unionsJun 192019Praise for the local hospitalJun 192019It’s a dam big dayJun 192019Boys left out of Rudd’s revolutionWelcome to Magazine PrimeBusiness v the familyNoah’s on the BeachON April 29, 2012, prominent Hunter businessman and horse breeder Martin Hawcroft climbed through a barbed-wire fence on his Sandy Hollowproperty and accidentally shot himself in the stomach.His tragic death at just 53, set in train a lengthy and complicated court battle between his widow, Jennifer Hawcroft, and the Hawcroft family company – which owns the landmark Newcastle hotel Noah’s on the Beach.The Hawcroft versus Hawcroft battle, over who was entitled to Mr Hawcroft’s $2 million life insurance policy, opened a window on the complex relationships in the prominent business family.It pitted the mother of Mr Hawcroft’s two young sons against an alliance of his brother and sister, John Hawcroft, of Warrawee,and Michelle Jamieson, of Burrapine, who combined, own a controlling share of Hawcroft General Trading Co.All three are directors and equal shareholders of the family companythat purchased Noah’s in 1989.The two-year battle was finalised in the Supreme Court last month with Mrs Hawcroft finding herself on the wrong end of an appeal court decision that awarded the $2 million to Hawcroft General Trading Co.A three-bench judge decision, it was in stark contrast to a year earlier when Justice Peter Young ruled Mrs Hawcroftwas entitled to the money and ordered the company pay her the $2 million that was being held in its solicitor’s trust account. The complicated legal challenges heard that Mrs Hawcroft believed she had a “moral claim” to the money because her husband had been paying the policy premiums for more than a decade.Required for a bank loan, the CommInsure life insurance policy was taken out by the company in 1996. As general manager of the company’s hotel business,the policy was required on the basis that the success of the business depended on Mr Hawcroft.HAPPIER TIMES: Jennifer Hawcroft with her late husband Martin Hawcroft – the Hawcroft family company owns Noah’s on the Beach.If something happened to him, the money would beused to employ a manager to prepare the company hotels, Noah’s on the Beach and Noah’s Mid City Motor Inn, Muswellbrook, for sale.In 2005, the insurance was no longer needed by the bank, the level of cover was dropped to $2 million and the company started deducting the monthly policy payments from Mr Hawcroft.The
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