The Herald Sun newspaper, which Andrew Landeryou has himself rated highly, wrote the following about Landeryou’s “cut and run” to
Costa Rica, and the associated fall out.
The only issue that the Herald Sun got wrong with its analysis is that Landeryou was not a Labor rat. He is in fact a Liberal Party rat, as he writes exclusively for the Liberal Party, as The Australian has reported.
For those time poor TS readers, we have provided a complementary Readers Digest version – reading the large font text provides a more than useful summary.
Rat left me bankrupt
FORMER city councillor Kimberley Kitching is bankrupt and set to lose her Parkville mansion over $3 million owed to retail tycoon Solomon Lew.
Ms Kitching blamed her financial collapse on her missing husband, Labor Party powerbroker Andrew Landeryou, who has skipped town leaving a trail of debt.
The son of former Cain government minister Bill Landeryou vanished in December and has not been seen since.
There is a warrant out for his arrest for failing to give evidence over the collapse of the Melbourne University Student Union.
Ms Kitching revealed yesterday she had filed for voluntary bankruptcy ahead of a scheduled court appearance today over the debt to Mr Lew.
She now stands to lose her heritage-listed Parkville mansion -- a wedding present from her husband -- to repay her creditors.
Breaking a long-standing silence, Ms Kitching told the Herald Sun she hadn't seen her husband since December 6, and wasn't sure if she ever would again.
"My husband told me he was going to Sydney on a business trip. He has not returned. I have not seen him since," she wrote in a statement.
"Over the last couple of months, I have been forced to accept that my husband has gone. I have no indication of his whereabouts or whether he intends to return.
"I fully trusted my husband and accepted his word that he would meet the financial commitments he had asked and advised me to enter into."
The $3 million debt relates to a failed company, IQ Corporation, controlled by Mr Landeryou and in which Mr Lew was a major investor.
Andrew Landeryou, his wife and his father Bill all signed documents agreeing to cover the debt.
An instalment due on December 22 wasn't paid, triggering the court battle over the funds.
Ms Kitching said in her statement that her attempts to reach a settlement with Mr Lew over the matter had failed.
Her bankruptcy trustee, Jim Downey, said apart from the debt to Mr Lew, Ms Kitching owed $600,000 to the Adelaide Bank, $35,000 to her father, and smaller amounts to about a dozen other creditors.
The Supreme Court this month heard claims that Andrew Landeryou transferred about $1 million to Hong Kong before he went missing. Liquidators believe some of the money has since been moved to Cyprus.
Ms Kitching served as a Melbourne city councillor until last year and was touted as a future mayor.