Risque cabaret maestro faces losing home over loan
The Brisbane-raised founder of an internationally renowned risque-cabaret performance company is facing the prospect of losing his home after he allegedly failed to repay a high-interest loan he took out for his performance company last year.
Scott James Maidment, who puts on sold-out shows at the Brisbane Festival each year with his Strut and Fret Production House Pty Ltd (Strut and Fret), has been sued in the District Court over an alleged $300,000 debt by online last-resort lender Moula Funding Pty Ltd (Moula).
Moula promotes itself as a small-business lender and on its website it is offering loans of up to $250,000 over periods up to two years, with access to funds in 24 hours.
Maidment, who is regarded in the industry as a maestro at creating hit shows for the Brisbane Festival's spiegeltent, borrowed $250,000 in August last year and agreed to pay two per cent interest per fortnight, the claim states.
This equates to more than 50 per cent interest per year.
When he borrowed the money he allegedly signed a guarantee which gave his Brisbane apartment as security for the loan in the case he defaulted, the claim states.
Moula alleges Strut and Fret and Maidment defaulted on the loan on June 19, a notice of default demanding repayment was sent on June 29, and this month the claim was filed in court, with Moula asking the court to force the sale of Maidment's Fortitude Valley apartment to repay the loan.
Moula lodged a caveat against Mr Maidment's two-bedroom loft-style apartment on June 30, which prevents its sale, the claim states.
It was put up for sale on September 11 asking for offers over $419,000, property records show.
Strut and Fret is based in Melbourne. Its shows include a mixture of circus, burlesque, music, dance and fire eating performers and they tour worldwide to festivals such as the Edinburgh Fringe.
Productions include Blanc de Blanc, Limbo and Fear and Delight and features performers from around the world.
The company describes itself on its website as "independent and dynamic" producers and managers of theatre, artists, events, festivals and venues.
"We believe artistic experiences should be breathtaking, heart-gripping, unforgettable and entertaining," the website states.
"With almost 20 years experience and a collective of passionate and creatively inspired individuals, we deliver distinctive events nationally and internationally," it says.
Mr Maidment, who began his career as a street performer during Expo '88, declined to comment when approached by The Courier Mail.
Originally published as Risque cabaret maestro faces losing home over loan