Former international drag racing champion ordered to hand back property to Bank of Queensland

A well-known drag racing champion has been ordered to surrender possession of his transport depot in semi-rural Narangba, after a Supreme Court judge ruled the mortgagee was entitled to vacant possession of the property.

Brett “The Boss” Stevens, a former national and international title holder, was arrested in January 2009, charged with drug manufacturing and trafficking offences. The mortgagee, national finance institute Bank of Queensland, had loaned the three-time Australian drag racing champion over $1.5 million in February, 2006.

Soon after the arrest, a court order was made restraining all of Steven’s property – including the five property lots subject to the BOQ mortgage. At the time, Stevens, whose assets were frozen on suspicion of criminal activity, refused to give his solicitors authority to accept service of mortgage default proceedings.

BOQ first initiated proceedings when Stevens failed to meet his mortgage obligations in December 2010, claiming an outstanding total of $1.8 million under both loans.

Somewhat impatient at Stevens’ extensive prevarication, the court ordered that BOQ be provided vacant possession of the land, despite the respondent’s request that he should be allowed 12 to 14 weeks to relocate.

“In my view, if someone is occupying a property without paying any rent a property which is subject to restraint of the court, that person ought to be vacating immediately,” said the prosecutor’s lawyer.

The court registries list six or so other debt recovery claims against Stevens and his companies Brett Stevens Racing P/L and Brett Stevens Transport P/L.

Website: http://www.cartercapner.com.au