Craig Adams / Ralph Paligaru – negotiations

Craig Adams and Ralph Paligaru together borrowed money against Ralph & Amreeta’s house at 88 Perfection Ave, Stanhope Gardens. The application states that Ralph Paligaru & Bargo Developments are the borrowers (jointly) and Craig Adams is the guarantor. The mind boggles why Craig would guarantee borrowings by Ralph (and vice versa) unless it was for a common purpose … (???).

The loan purpose states:

“6 months – Development loan”.

At the time, Ralph informed me that the funds were to be used to prepare a development applications for the Dural private hospital, discussed below, in which Ralph was contracted to receive a confidential 20% interest – through confidential heads of agreement. Ralph entered contracts with Bargo Developments over the dural land at 632 Old Northern Rd on behalf of Mohan Kumar (alias Chhota Rajan, aka Rajendra Sadashiv Nikalje) whom at the time, Ralph held a power of attorney. Bargo owned Mohan Kumar (alias Chhota Rajan, aka Rajendra Sadashiv Nikalje) $4m guaranteed by Bargo and Craig Adams.

Craig Adams and Ralph Paligaru entered confidential heads of agreement – a copy of document available here – just prior to Ralph and Craig exchanging contracts for the sale of 632 Old Northern Rd with a $4m vendor loan Ralph agreed to for Mohan Kumar (alias Chhota Rajan, aka Rajendra Sadashiv Nikalje).

88 Perfection Ave, Stanhope Gardens is NOT a development site.

Bargo’s land at 632 Old Northern Rd, Dural IS and was a development site.

Ralph admitted in writing (under the confidential heads of agreement) he had a “vested interest” and Craig has given him shares.

Shortly after, as part of the common refinancing effort by Ralph and Craig, Craig attempts to obtain the discharge a mortgage (over Ralph house – 88 Perfection Ave, Stanhope Gardens) through an implied threat seeking more favourable terms than they were entitled to from the relevant mortgagee (the ex-vendor being Mohan Kumar (alias Chhota Rajan, aka Rajendra Sadashiv Nikalje)). Craig wrote:

Ultimately, Craig & Ralph were unsuccessful in attempts to ‘negotiate’ an unwarranted reduction in the sum owed and secured to Ralph’s property. It is unknown whether the above unwarranted demand upon the mortgagee was in breach of any aspects of the Crimes Act?

John Mahony appears to have acted on aspects of this refinancing but invoiced Bargo (Craig’s company) for the work. Copy of the invoice – click here. It is not clear how John Mahony was able to maintain his independence or manage potential conflicts – John Mahony acted at that time for the following persons in the following capacities:

• Ralph & Amreeta Paligaru – mortgagors of 88 Perfection Ave, Stanhope Gardens, borrower from Reliance Leasing, POE (and upon refinancing mortgagors to Franklin Yeezy with an interest rate of 6% per month in default), in a joint venture with Craig Adams, Director of and shareholders in Dural Alliances Pty Ltd (in liquidation). Ralph was POA for Mohan Kumar (alias Chhota Rajan, aka Rajendra Sadashiv Nikalje) – owed $4m by Craig Adams / Bargo.
• Mohan Kumar (alias Chhota Rajan, aka Rajendra Sadashiv Nikalje) – ex-vendor of 632 Old Northern Rd, Dural (whose power of attorney was and is Ralph Paligaru. Mohan Kumar (alias Chhota Rajan, aka Rajendra Sadashiv Nikalje) was at the time residing in an Indian Prison on a life sentence for murder and was and is owed in excess of $4m by Craig’s company – Bargo Developments.
• Bargo Developments – paying John Mahony’s legal bills at the time and named on invoices as the client.
• Reliance Leasing – owed a fiduciary duty by John Mahony on the refinancing of loans to Ralph Paligaru secured to 88 Perfection Ave.

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