Luxury cruise operator Kimberley Pearl Tours has collapsed, leaving numerous holidaymakers thousands of dollars out of pocket. The company's troubles stem from a dispute over a loan taken out by its sole director, Daniel Brown, for the purchase of the vessel.
According to reports, Brown took over the business in 2024 and borrowed approximately $395,000 from non-bank lender Blackbird Private Equity to finance his acquisition of the Kimberley Pearl. This debt reportedly grew to over $1 million due to missed repayments, prompting Blackbird to appoint receivers from the accounting firm Hall Chadwick in January.
Customers who had paid deposits for future cruises were left in a precarious position. Retired farmer Ian Grant narrowly avoided transferring an additional $140,000 after discovering the company's financial distress by chance. Another customer, Bob Shawyer, lost $8,500 for a holiday he and his wife will not be taking.
Despite the receivership, Kimberley Pearl Tours has continued to advertise bookings for late 2026 and early 2027 on its website. The Kimberley Pearl is described as a restored pearling vessel offering cruises along the Kimberley Coast.
Daniel Brown has challenged the receivership in the Federal Court, alleging that the loan arrangement was unfair. He has also accused Richard Albarran, a managing partner at Hall Chadwick and appointed receiver, of acting improperly, including threatening to sell the vessel for less than its market value and acting as a "shadow director" for Blackbird. Justice Michael Feutrill has temporarily banned the receivers from selling the company's assets pending mediation, noting that it was "reasonably arguable" that Hall Chadwick was appointed in bad faith. Questions have been raised about a potential family trust link between Albarran and Blackbird, though Albarran has strongly denied any wrongdoing.
Blackbird Private Equity is also reportedly under investigation by class action firm Adero Law concerning allegations of unfair lending practices.
The legal battle has created uncertainty for customers awaiting refunds and information. Creditor Noel Blackmur expressed concern over the lack of communication from those managing the company's affairs. Hall Chadwick partner Brent Kijurina attributed delays to Brown allegedly withholding company records and login details, necessitating intervention from the Australian Securities and Investments Commission (ASIC). Kijurina also stated that an "active court injunction" was holding up some refunds.
Brown, however, denies these claims, asserting that the receivers had already seized company assets, including the Kimberley Pearl, which prevented him from accessing records. He has apologized to customers, stating his intention to issue refunds and relaunch the cruise service, and blamed "people who were never entitled to your money" for breaking customer trust.