Lhere Artepe Enterprises Pty Ltd did not approve Pearce email

By ERWIN CHLANDA

Lhere Artepe Enterprises Pty Ltd (LAE), which is carrying out the Mt Johns Valley real estate development, is tight-lipped about a $650,000 loan it received from the town’s native title body, Lhere Artepe Aboriginal Corporation (LAAC).
To an enquiry from Alice Springs News Online whether the money had been repaid, and if not, when would it be, a spokeswoman for LAE said: “This is a matter between LAAC and LAE.”
And she says the LAE board had not seen an email, nor approved it, sent by Darryl Pearce, in connection with a share deal in CDE Civil. Mr Pearce was recently sacked as the company’s CEO.
She declined to answer questions about CDE Civil, in which LAE is the major shareholder and which is in liquidation, saying the replies would need to come from the Administrator.
These were the questions from the News: What was the extent of LAE and / or LAE Nominees losses and other exposure?
I understand as shareholders you can’t be held responsible for the debts. Can Mr Pearce as the only director?
The spokeswoman says titles for Mt Johns blocks will be issued “shortly. The Land Title office has received the final survey plan, when checked, the titles, which are already prepared, can be issued.”
The spokeswoman says there are a total of 28 blocks at Mt Johns: “Five of these blocks are for medium density and the remainder are for single unit accommodation.
“Seven blocks are currently contracted – some of these contracts include the medium density blocks.  “There is also one large block which has the capacity to yield 50 units of accommodation.”
The News asked: “How will Lhere Artepe Aboriginal Corporation and its members be benefitting from the commercial ventures of LAE and LAE Nominees?”
The spokeswoman replied: “This is a question that should be directed to Lhere Artepe Pty Ltd which is the overarching body for the four estate groups.”

Photo: Happier days (from left) LAAC chairman Brian Stirling, now replaced by Ian McAdam; real estate agent David Forrest and Darryl Pearce, sacked as CEO.

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  1. Shaun
    Posted January 25, 2012 at 8:35 pm

    I’m sorry to say nothing will change in this town when it comes to housing development. Mt Johns Valley has now dragged on for what must be close to 10 years … it’s a joke … and still no houses built. Don’t expect anything different from the Kilgariff subdivision either. Look out for blocks available in about 2022 at this rate. Don’t see any housing problems in Darwin, especially now they have announced the gas project going ahead and the company building affordable houses as well. We will always be second class citizens in Alice Springs while Henderson is at the helm. NT Government needs a rocket up their proverbial ass.

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