Economy

Former property guru Cathy Jane Pearce misses court appearance

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Former Adelaide property tycoon Cathy Jane Pearce failed to appear in the Adelaide Magistrates Court yesterday in relation to two civil cases bought by an investment company of which she was formerly a director.

Former Adelaide property tycoon Cathy Jane Pearce failed to appear in the Adelaide Magistrates Court yesterday in relation to two civil cases bought by an investment company of which she was formerly a director.

According to a report in The Australian, a company called First Corner is suing Pearce and her step-daughter Adrianna Pearce for the return of $16,334, which was allegedly transferred into Adrianna’s bank account without authority.

First Corner is also suing Pearce for the return of $18,242 allegedly paid by her to Chess Moving Australia following her relocation from Adelaide to the Gold Coast.

Adrianna Pearce appeared in court yesterday, where lawyers for First Corner said they were close to negotiating a settlement with her.

But magistrate Gary Gumpl said he had received notification that Cathy Jane Pearce would not attend. “We’ve received several emails and, according those, the defendant is not going to attend court and is not going to be available to the court.” Gumpl warned that she must attend the next hearing.

Cathy Jane Pearce made her name buying old apartment blocks and renovating them. She was the author of the book Real Estate Cash From Treasure and Trash and was listed on the BRW Young Rich list in 2005 with a fortune of $19 million.

But just a year later her development company was placed in liquidation.

 

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