THE tyre tycoon Bob Jane admits the signature looks like his but yesterday he denied signing a mortgage to pay off $1.5 million of his former wife's credit card debts.
The Supreme Court in Melbourne heard Laree Jane was an "extravagant spender" who had owned 41 credit cards and could not live within an $800,000 yearly allowance during her marriage.
David Collins, SC, for Mr Jane, said Ms Jane had once spent $1.5 million on credit cards within three years.
He said the debt was cleared with a mortgage taken out on Mr Jane's family home that he had no memory of signing.
By April 2007, Mr Collins said, Ms Jane had amassed another $650,000 in debt with her taste for pearls and "an unwillingness to try and exercise any control over her spending".
Mr Jane and his former wife are locked in a legal battle over two Bob Jane T-Mart franchises that have been operated by Ms Jane, her sister Natarsha Ryan, and brother-in-law Glenn Ryan.
Mr Jane and his former wife are locked in a legal battle over two Bob Jane T-Mart franchises that have been operated by Ms Jane, her sister Natarsha Ryan, and brother-in-law Glenn Ryan.
The court heard the Bob Jane Corporation tried to terminate the franchise agreements of the Essendon and Taylors Lakes stores because of hundreds of thousands of dollars of unpaid franchise debts.
Mr Collins said the businesses' bank accounts were being drained by Ms Jane and the Ryans to pay for personal expenses and property investments.
Kate McMillan, SC, for Ms Jane, has said Mr Jane was reclaiming the businesses to punish his former wife after their relationship turned sour at the end of 2006.
Kate McMillan, SC, for Ms Jane, has said Mr Jane was reclaiming the businesses to punish his former wife after their relationship turned sour at the end of 2006.
Following the couple's bitter break-up, Mr Collins said, Ms Jane was initially paid $30,000 a month for personal expenses.
But he said when the payments stopped she resorted to raiding the franchises' bank accounts to pay off her overused credit cards.
Ms Jane met Mr Jane, a former racing car driver, when she was 19 and he was 55. They were together for 20 years and have three teenage children. Ms Jane did not acknowledge (Why ??? !!! ??? - Because he did NOT pay her credit card bill ??? !!! ??? ) her former husband's entrance as he slowly made his way to the front of the court.
The case before Justice Peter Vickery continues.
smh 22 May 2008
I'd be SMILING too if some one else was to pay my credit card bill !!
A pure and unadulterated O.H'S
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