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The eldest son of one of Melbourne’s most established families, the Valmorbidas, has launched court action over the management of their late mother’s estate as a war brews over the distribution of the noted family’s assets.
Italy-based Paul Valmorbida, the eldest son of patriarch Carlo Valmorbida and former partner of actress-singer Tottie Goldsmith, applied to the Supreme Court of Victoria this month to replace his brother, John Valmorbida, and his sister, Luisa Valmorbida, as executors of the estate of their late mother, Elsie.
If Paul’s application is successful, a new independent administrator and trustee would be put in place to review a series of transactions that occurred in the years leading up to Elsie’s death from dementia in 2025.
The court filing does not detail any of the transactions or the assets they involved.
It does note, however, that Paul Valmorbida has agreed to cover the costs of the new administrator and trustee.
The action is the first step in what could end up in an epic court battle involving one of the city’s most prominent but private families.
Elsie was married to Carlo Valmorbida, one of the founders of a family empire that was first based out of the famed King and Godfree site in Carlton.
The super-wealthy Valmorbidas now have interests that span art dealing, hospitality, investment and the manufacture and importation of many high-profile Italian brands, including over several decades Lavazza coffee, La Gina tomatoes, Sirena tuna and Moro and Val Verde olive oils. The family also has significant interests in the wine industry.
The family business earned a large severance payment when they handed back the distribution rights to Lavazza in 2015 after turning the coffee company into a household brand.
According to her will, Elsie left the shares in the companies that hold the family’s ownership of the former King and Godfree site in Carlton and other businesses to John and Luisa.
The remainder of Elsie’s other property, including a $5 million apartment in South Yarra, was bequeathed to Paul, John and Luisa, as well as each sibling’s sets of children.
Under this arrangement, Paul and his children, who include fine art dealers Andy Valmorbida and Paul-Charles “PC” Valmorbida, will receive a third of Elsie’s remaining property.
Andy and PC spent a couple of decades at the heart of New York’s art and party scenes.
PC’s former partners include Theodora Richards, daughter of Rolling Stones guitarist Keith Richards and actress Mary-Kate Olsen, while Andy once rubbed shoulders with then “it girls” Paris Hilton and Lindsay Lohan.
Under their mother’s will, former Carlton Football Club director John Valmorbida and his children received a third of Elsie’s real assets, while Luisa Valmorbida and her children received the remaining third.
Company searches show Paul Valmorbida has held limited roles in the broader family business for nearly two decades, while John Valmorbida and his sister Luisa Valmorbida have both continued to be involved in the family’s business.
Paul Valmorbida, who now lives in Vicenza, the Italian city from which his family migrated to Australia, said in court documents that his siblings had consented to appointing an independent administrator to Elsie’s estate.
The real size of the estate is currently unclear, but it remains a far cry from the lavish lifestyles of the family which is often viewed as one of Melbourne’s richest clans.
Along with the South Yarra apartment, Elsie’s estate included a $1.35 million bond for her aged care accommodation in Malvern East and return of fees paid in advance.
Elsie’s estate also included nearly $94,000 in cash and 92 shares in BlueScope Steel valued at around $2300. Her personal belongings were valued at $60,000, according to court documents.
The estate also included about $5 million in debt, much of which comprised personal loans from family members.
According to those documents, Elsie borrowed $1.69 million from her own personal trust. She was also provided with a nearly $1 million loan from each of her children John and Luisa in 2018.
John Valmorbida and Luisa Valmorbida also stumped up $1.35 million – or $675,000 each – to pay for their mother’s aged care bond.
According to her death certificate, Elsie Valmorbida died at the grand age of 97 after suffering dementia in her final years.
A source familiar with the probate but not authorised to comment publicly said there were no concerns about Elsie’s competency to sign her will. Her probate file includes an assessment by Elsie’s general practitioner stating she had the capacity at the time her will was drafted and signed.
The King & Godfree business, which has been owned by the family since the 1950s, has been under the stewardship of John Valmorbida’s son, Jamie Valmorbida and Luisa Valmorbida’s son Luca Sbardella, for several years.
In the past 12 months, it has reopened as an Italian restaurant and wine room under the name Delmonte and overseen by Jamie Valmorbida.
John Valmorbida’s daughter, Lisa Valmorbida, has also carried on in the family’s footsteps, setting up the Pidapipo gelateria chain, which now has four outlets in Melbourne’s inner city.
Paul Valmorbida’s lawyer declined to comment.
A lawyer for John and Luisa Valmorbida also declined to comment.
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Sarah Danckert is a senior reporter who specialises in investigations and corporate wrongdoing. She is a two-time Walkley Award winner, and has won six Quill Awards and two Kennedy Awards.Connect via X or email.From our partners
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