Rocco “Roy” Mustaca tight-lipped as Planet Warriewood placed into receivership

Northern Beaches developer and crooner Rocco “Roy” Mustaca will have more to say on the future of Warriewood Cinema in coming days, according to his son Sam Mustaca.

Warriewood Cinema is owned by Planet Warriewood, which was placed into receivership on May 22. 

According to documentation from the Australian Securities and Investments Commission, 10 properties owned by Planet Warriewood are now in receivership.

They include 4 Vuko Place, the location of the seven-screen Warriewood Cinema complex, which opened in 1998, and properties in Manly and Terry Hills. 

A receivership is where an independent "receiver" is appointed to collect and sell assets in order to repay a company's debts.

The receivership will likely affect a major development proposed by Planet Warriewood for Port Macquarie. You can read more about that here.

Sam Mustaca, CEO of the Mustaca Group of Companies, told the Lorikeet on Wednesday his father would talk about the issue in the coming days.

Thumbnail: Google Maps, Roy Mustaca Instagram