Skip to content南京夜网,南京桑拿,南京夜玩会所-江苏夜网论坛                                    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 52019Rezoning promise on emergency centreJun 142019Euros’ new star recruitJun 142019Spirit calls on fans’ support in semi-final this SundayJun 142019Collie teenager enjoys Canberra youth summitJun 142019Beautiful sites worst for trash dropJun 142019Financial assistance for briquette customersWelcome 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