“Let the boat go to scrap”. Hall Chadwick private lending network exposed
Reporter as Kimberley cruise ship falls into the hands of Hall Chadwick’s bankruptcy partner Richard Albarran Stephanie Tran He discovers a secret credit network behind the company.
Hall Chadwick managing partner Richard Albarran, one of the country’s most senior insolvency practitioners, is linked through his family trust to a wide-ranging security interest in the lender’s parent company, which has appointed him as trustee on many occasions.
ASIC files Albarran Family Trust No. It shows that 2’s trustees held a registered general securities interest in Blackbird Mortgage Corporation Pty Ltd, the company at the top of a lending structure that eventually appointed Mr Albarran trustee of Kimberly Pearl Tours.
The same corporate chain reveals that Blackbird Mortgage Corporation wholly owns Blackbird Private Equity Pty Ltd, the entity that appointed Mr Albarran and his colleague Brent Kijurina as receivers and administrators of the tourism operator in January.
Parramatta Suite
At the center of the network are Blackbird-branded lenders, associated shareholder vehicles and a modest Parramatta address – Suite 1, 5 Macquarie Street – which serves as the registered office or principal place of business for the CPA Partners Financial Services network.
Private lenders, brokers and liquidators. It’s a dark world.
CPA Partners Financial Services is equally owned by entities affiliated with the Garcia, Delgado and Locaputo families. One of these vehicles, JAY D Pty Ltd, holds 30 percent of Blackbird Mortgage Corporation, but its stake is unprofitable. ASIC records show these shares are held entirely in trust.
The remaining 70 percent is held by Blackbird Finance Pty Ltd, which is recorded as the ultimate holding company of Blackbird Mortgage Corporation.
Albarran Family Foundation
A PPSR record dated August 24, 2021, Albarran Family Trust No. It shows that the trustees of 2 are the secured party on Blackbird Mortgage Corporation. The coverage class is “all existing and subsequently acquired property – no exceptions”.
CPA Partners Financial Services is listed as a joint secured party in the same record.
The effect of this statement is far-reaching: Any assets held by Blackbird Mortgage Corporation now or in the future are covered.
This includes its wholly owned subsidiary, Blackbird Private Equity, and the resulting acquisition proceeds realized at this level.
The PPSR record has not been updated to reflect Blackbird First Mortgage Corporation’s name change in 2025.
Blackbird and Hall Chadwick lending and borrowing network
appointment cycle
Records show Blackbird Private Equity was founded in 2022 and has been wholly owned by Blackbird Mortgage Corporation since its inception.
On January 22 this year, Mr Albarran and Mr Kijurina were appointed receivers and administrators of Kimberly Pearl Tours.
This follows an earlier round of loans through a parallel structure involving BPE Loans 2 Pty Ltd and Merlot Loan Services, which are also linked to Blackbird Finance.
Blackbird Private Equity’s Hall Chadwick was paid $100,000 in August 2025, which was recorded as part of a refinancing cut linked to the earlier appointment.
Blackbird Private Equity has appointed administrators for Mackay Goodwin’s Kimberly Pearl Tours, three months after its takeover.
An affidavit filed by administrators revealed prior cross-referral work with Hall Chadwick. Mackay Goodwin founder Domenic Calabretta was previously a partner at Hall Chadwick for more than a decade.
The effect of dual appointments was to completely displace the company executive and consolidate control of company affairs over external appointees.
before the court
The same structure was previously published in the Federal Court.
In a lawsuit filed in March by a Margaret River winemaker, the lawyer alleged that Mr Albarran had a financial interest in the Blackbird group and pointed to the PPSR register held by the family foundation.
Judge Michael Lee later issued consent orders preventing buyers from dealing with certain assets and entering certain properties without notice.
The claims have not been tested.
Liquidator: “I am happy that I lost 350 thousand dollars, let the boat go to scrap”
Stephanie is a journalist with a background in both law and journalism. He worked at The Guardian and as a paralegal, where he assisted Crikey’s defense team in the high-profile libel case brought by Lachlan Murdoch. His reporting has been recognized nationally, earning him the 2021 Guardians of Democracy Award for Student Investigative Reporting and a nomination for the 2021 Walkley Student Journalist of the Year Award.
