Church denies links with failed company: [1 All-round Country Edition]
Stapleton, John. The Australian [Canberra, A.C.T] 04 June 2007: 5.
Abstract
Members of a group of Christadelphians meeting at Chatswood in Sydney's north yesterday denied any knowledge of ACR.
"There is no involvement with the two gentlemen from ACR in any [Christadelphian] facility, including nursing homes, schools or anything else," Mr [George Errinton] said.
Mr [Sam Pogson], 46, lives in a home at Wahroonga, on Sydney's upper north shore, valued at more than $5 million.
CREDITORS of the failed property group Australian Capital Reserve will meet today to learn about the extent of their losses and prospects of recovering a portion of their investments.
Thousands of small investors will attend meetings in Brisbane, Sydney and Melbourne in the hope of recovering their money once secured creditors, such as banks, have been repaid.
About 7000 small investors pumped $300 million into the property company, which went into voluntary administration in late May with debts of more than $500 million.
However, secured lenders such as banks, which some sources estimate are owed about $200 million, are expected to come higher in the pecking order for repayments.
Company directors Sam Pogson and Murray Lapham have not confirmed reported links between them and the Christadelphian church.
Members of a group of Christadelphians meeting at Chatswood in Sydney's north yesterday denied any knowledge of ACR.
A spokesman for the group, George Errinton, said the men had not to his knowledge used their membership of the church to try to involve other church members in the company.
"There is no involvement with the two gentlemen from ACR in any Christadelphian facility, including nursing homes, schools or anything else," Mr Errinton said.
"We have no connection with Hillsong or any other church. We are just a group of people who believe in the Bible. There has been no attempt to sell anything to any of our members. There is absolutely no connection whatsoever."
He said the men involved were not members of his congregation.
Other church members exiting the hall yesterday either refused to speak to The Australian or denied any knowledge of ACR.
Mr Pogson, 46, lives in a home at Wahroonga, on Sydney's upper north shore, valued at more than $5 million.
Mr Lapham, 45, lives at Castle Hill, in Sydney's northwest, in a property estimated to be worth about $2 million.
Editorial -- Page 9
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