A high-profile real estate agency has collapsed into voluntary liquidation owing nearly $2.6 million to creditors, with its director alleging a former trusted assistant and friend siphoned more than $675,000 from the business. The director, Daniel Trelease, had initiated Supreme Court proceedings against Jacqueline Clow (née Reidy), his former executive manager and personal assistant, alleging she breached her employment contract after resigning in January 2024. Clow died suddenly on March 26, 2025, at the age of 58, before the claims could be tested in court.
Court documents filed by Trelease Associates Property Management (TAPM) and its trustee company, Daniel Trelease Pty Ltd, allege Clow, who had worked for the company for over six years, had exclusive access to both business and personal online banking accounts. Trelease claims she changed banking passwords and refused to provide them, hindering his access to the accounts.
Allegations of Betrayal and Financial Collapse
According to Trelease's statement of claim, the alleged losses attributed to Clow ultimately contributed to the downfall of the Mosman and Double Bay-based agency. Trelease reportedly placed "complete trust and confidence" in Clow throughout her employment before concluding that she had "embezzled" a significant amount of company funds. He further attributed the company's collapse to "recently found out fraud," "theft and malfeasance," alongside his own "poor management and oversight."
However, a report by liquidator Jamieson Louttit also cited broader business issues, including undercapitalization, declining revenue, inadequate cash flow, poor management of accounts receivable, and mounting tax liabilities. The report identified potential uncommercial transactions, unfair loans, and unreasonable director-related transactions, with possible insolvent trading dating back to July 2020. The trust incurred substantial debt that became unsustainable amid declining property sales and an inability to meet creditor expectations.
A Public Figure's Private Struggles
Before the legal proceedings, Clow was a recognizable figure in Sydney's hospitality scene as the former wife of Irish publican Donnacha Reidy, who owned several well-known establishments. The couple were prominent on the racing and social circuit in the late 1990s and early 2000s. Following their divorce, Reidy relocated to Western Australia with their two daughters. Friends indicated Clow had moved to Kiama on the NSW south coast with her partner, builder William Clark, seeking a fresh start and had lost touch with many Sydney friends.
Friends expressed shock at the allegations, with one stating, "These allegations are shocking and certainly come as a surprise to anyone who knew her. There has to be more to it. It just doesn't sound like the Jacquie we all knew."
Aftermath and Unresolved Questions
Following Clow's death, her partner, William Clark, shared a tribute online, writing, "You left me too early... I miss your smile and face every day." Reports suggest Clark has since had a falling out with Clow's daughters after her funeral.
Daniel Trelease, who had reportedly been out of Sydney following the business collapse, has since returned and is working for another agency in Rose Bay. His new company website highlights his experience as a former owner of a successful buyers agency known for client satisfaction, confidentiality, and professionalism.
The total unsecured debt for the failed companies stands at approximately $2.58 million, including nearly $85,000 owed to the Australian Taxation Office. The circumstances surrounding the alleged siphoning of funds and the subsequent collapse of Trelease Associates Property Management remain the subject of a legal dispute that cannot be fully resolved due to Clow's death.