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Medich Pursues $17m Debt On Firebombed Harbour Home
Meanwhile under the front page headline "Point Piper Feud, Firebomb & $17m Lawsuit", The Sydney Morning Herald detailed the titillating "neighbourhood feud" in exclusive Wolseley Road on harbourside Point Piper (recently listed as "one of the Top 10 strips of real estate in the world") between Business Review Weekly rich-lister Ron Medich ("a keen punter who races a string of thoroughbreds") & the Tilley family (high-profile brothers Ben, Adam & Simon) "which has involved civil actions in the Supreme & Federal Courts". The saga began when Adam Tilley bought Medich's $12.5 million waterfront home in 2004 & "borrowed $17 million from Medich" to finance his plan to "demolish the home & replace it with a swanky 5-storey boutique apartment building". A spokeswoman for Medich told the newspaper: "There are settlement discussions continuing between the parties & we are hopeful it will be resolved."