A besieged construction company and its controversial director are being sued for an eye-watering nine-figure sum by the developer of a billion-dollar project at Broadbeach. Here’s why.
Kathleen Skene Follow 4 min read May 26, 2023 - 2:00PM
Gold Coast Bulletin
A besieged construction company and its controversial director are being sued for a heart-stopping $122 million by the developer of a billion-dollar project at Broadbeach.
Iris Capital, a company directed by billionaire hotelier Sam Arnaout, has lodged two separate court actions involving Descon Group companies. One of the actions names the group’s managing director Danny Isaac as a defendant.
The actions, both in the Queensland Supreme Court at Brisbane, reveal a spectacular high-stakes falling out over construction of the colossal Victoria & Albert project in the centre of tourism hub Broadbeach. Descon is expected to defend the actions
Descon had been contracted by Iris to build V&A, a 56-floor twin-tower project on the site of the former Niecon Plaza. But the deal broke down in February, leaving the development without a builder on the eve of its construction start date.
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