A BITTER legal battle has erupted over the multimillion-dollar estate of late society darling Cindy Fleming.
Ms Fleming’s former de facto husband, millionaire developer John James, has launched a case in the Supreme Court against the administrator of her estate, Ms Fleming’s widower Michael Conley.
FOR SALE: Monument to ’80s excess
REAL ESTATE: More Qld property news
Mr James, 49, who made his fortune developing James St, Fortitude Valley, into a trendy shopping and dining precinct, launched the case on March 5, three weeks after Mr Conley officially demanded James’ company repay $1.53 million to the Fleming estate.
Mr Conley, a teacher at St Joseph’s College in Gregory Terrace, and Ms Fleming, 52, lived in the $8 million house in St Lucia dubbed the Pink Palace until September 3 last year, when she died suddenly of an asthma attack.
The iconic residence, situated high on a hill, is a Brisbane landmark whose previous owners include internet porn baron Greg Lasrado. In its 1980s heyday it reportedly hosted the likes of Elton John, Cher, Bruce Springsteen and Billy Joel.
A former dancer, Ms Fleming is survived by four sons and Mr Conley, and is remembered for being the life of the party and supporting charity.
Property records show the four-bedroom, five-bathroom mansion on 14 residential blocks was put in the hands of a family lawyer last month pending sale, and was previously owned by Ms Fleming and Mr James, who were in a de facto relationship from 2002 to 2009.
Court documents reveal the $1.53 million claimed by Mr Conley in the lawsuit was invested in 2003 in three James St shops worth $9 million.
The investment has been a profitable one. In 2013 the partnership made a net profit of $642,558 from $1.86 million in rental income.
In his affidavit to the court, Mr James says he should not have to repay the $1.53 million immediately because the terms of the trust state it is a long-term investment and not “repayable on demand”.
His affidavit says that the lawsuit isn’t really about the $1.53 million, but that Mr Conley wants to know what a trust set up in Cindy Fleming’s name is worth.
“The underlying issue that (Michael Conley) seeks to agitate in issuing the statutory demand (to my company) is the financial position of the Cindy Fleming Trust and Cindy’s estate,” it says.
Mr James argues Mr Conley should sell the St Lucia mansion.
When contacted for comment, Mr James said he had nothing to say. The case is to come before the court on March 30.
ncG1vNJzZmimlazAb6%2FOpmWarV%2Bbtq%2BtzZycaKqVlrlusdKtmK2dX5e%2Fqr%2FBmqWeZaGhsXC%2F02ajrpuZlsButcKopaKbXaW2r7eMqZilmZOaeqLAjJycp6yimnqwsoydnJydkaiypXnErKuarJVir6LA06WcaKaVrMBuv9OoqbJnkmt9ca7Bn2dsm2Jsf3Owl26ca2mSmIR6sZOfnG9oY5k%3D