U: The names behind the action, week to 18 November 2001

Your new Bob Dey Property Report column

This page contains a mixture of property and other information, company formation, the down side of business, market bits & pieces, probably fairly cryptic and rushed.

The weekly Snapshots tend to contain formal information, while other stories on the website are generally structured. U will contain snippets, less often from formal sources, maybe unstructured and incomplete.

17 November 2001

Grant Graham (Ferrier Hodgson) was appointed on 6 November as receiver of income of certain assets of Amalgamated Securities Ltd (Suren Sharma). Suren Sharma took over as director of Reg Watt’s companies, including this one & numerous companies with property interests, when he was bankrupted in July.

John Buchanan (JR Buchanan & Associates Ltd, Takapuna) was appointed on 8 November as liquidator of Corro Investments Ltd (Christopher Cavanagh, whose other companies are Corropump Pacific Ltd & Pump Placements Ltd).

Steven & Rosemary Allen have applied to wind up Hogan Developments Ltd (Robyn Hogan, also a director of Trio Reconstruction Ltd & First Time Home Owners Ltd, Manukau). The application will be heard in the Auckland High Court on Thursday 22 November at 10.45am.

Inland Revenue has applied to wind up Birkenhead Glass Ltd (Sean Friary), to be heard in the Auckland High Court on Thursday 29 November at 10.45am.

16 November 2001

High Court liquidation list, 15 November:

The application of Babcock NZ Ltd to wind up Agio Trustees Co Ltd (Stuart Robertson, Te Atatu) was adjourned to Thursday 6 December at 10.45am after Agio made part payment. Another Robertson company, Trust Asset Management, settled with law firm Phillips Fox and had the application to wind it up struck out last week.

The application of Smiths Underground Services Ltd to wind up PMT Contractors Ltd (Peter McIntyre, Laingholm), served but not advertised, was adjourned to Thursday 6 December at 10am.

The Housing Co 2000 Ltd (Boon Clid Chan, Weymouth) faced three liquidation applications plus other creditors in the wings at the High Court this week and was ordered wound up on the application of Tarzan Design Ltd, with Derek Farrelly appointed liquidator. Newframe Homes Ltd (David Atkinson & Gary Warrington, Rotorua)’s application to liquidate another Boon company, GM Consultants Ltd was adjourned to Thursday 6 December at 10am because of defective documents. GM would otherwise have been wound up. Mr Boon remains a director of Mike’s Financial Services Ltd, Finance Selectors Ltd & Project Housing In Action Ltd.

Glenfield Properties Ltd(Keith Sturley) was wound up on the application of Inland Revenue, with Gerald Hulst named liquidator.

AHC Developments Ltd (Andrew James Lamont Turner, Howick) settled its debt to W Stevenson & Sons Ltd and the application to liquidate AHC was withdrawn. Another Turner company, Nelson Street Developments Ltd, was wound up in July. In May Mr Turner formed Auckland Home Co Ltd. In September he formed Southern & Eastern Holdings Ltd, and on 9 November he formed Malmsbury Construction Ltd.

Gateway Properties Ltd (James Thwaites, Wellington) settled its debt to Chubb NZ Ltd and the application to liquidate Gateway was withdrawn.

Paul Bett’s application to liquidate Southern Restaurants Ltd (Neville Mahon, of the Woodland Group & numerous other companies) was said in court to have been settled, but was adjourned to Thursday 14 March 2002 at 10am.

United Networks Ltd’s application to liquidate Ranui Station Developments Ltd (Wallace Bayne, of Baseline Homes Ltd & Makora Investments No 1 Ltd, and John Cave, of Makora, Mt Roskill Décor Ltd & Captain Scott Developments Ltd) was adjourned to Thursday 6 December at 10.45am.

Hornsby Earthmovers (Auckland) Ltd (in receivership, directors Darren & Edward Hornsby) was wound up on the application of Laurence McLean. Edward Hornsby is director of several other companies, including Hornsby Earthmovers Ltd, Whangaparaoa Heights Ltd, Okura Developments Ltd & Mt Richmond Industrial Park Ltd. Hornsby, meanwhile, filed a claim in the Auckland District Court last Friday against property developer Kenrick Wimsett, director of Medland Park Ltd, Parnell No 2 Ltd & several other development companies, and involved in development this year with Callum Baker (McLeod Construction Ltd).

Inland Revenue’s applications to liquidate Roi’s Floorsanding Services Ltd (Teaukura Roi, Te Atatu North) and Arcet Holdings Ltd (industrial property developer Andre Jorna) were adjourned to Thursday 20 December at 10.45am.

City Viaduct Café Ltd (Bing Wong & Ben Young) went into voluntary liquidation about an hour before the court application of Waterfront Retail Ltd (Vino Ramayah & Russell Clarke) was due to be heard.

Neither party appeared for Cabellos Holdings Ltd (David Taylor, Christchurch, whose other companies include Coiffure Corp Ltd)’s application to wind up Servilles Ltd (Paul & Jacci Huege de Serville). The application was adjourned to Thursday 6 December at 10.45am.

The application of Dempsey & Wood Civil Contractors Ltd (Conal Dempsey & Tony Wood) contesting appointment by shareholders of the liquidator for Red Hill Homes Ltd (now shown as Phoebe Foley; previous story) was adjourned by duty judge Justice Mark O’Regan for another week, to Thursday 22 November.

15 November 2001

District Court judgments:

City Wise associates Michael Dunphy, Ricky Fergusson & Derek Reeves have had judgment entered against them in the Auckland District Court for $138,501, owed to Kenley Holdings Ltd (Stephen Rutherford). Mr Ferguson (with Ralph Garland) formed Intelligent Property Ltd on 27 September, and is also a director of Leapfrog Investments Ltd & CL Investments Nos 1/2 Ltd (with Symon Peters of the City Wise group). Mr Reeves is also a Leapfrog director, director of 327 Adelaide Road Ltd (with Mr Peters) & director of Crown Lynn Investments Nos 1/2 Ltd.

David Hook, director of a number of operating companies but also of two in liquidation, Judder Bar (Vulcan Lane) Ltd & Orbit Bar Ltd, had judgment entered against him the Auckland District Court for $26,361 owed to Centurion Finance Ltd (American Express).

The man who spotted the potential which resulted in the Chancery project, Mark Stuart Lyon (of Mission Corporation Ltd), has had judgment entered against him in the Auckland District Court for $17,625 in favour of the Murray Cockburn Partnership.

Richard McCahon, whose Harcourts agency company, Richard McCahon Real Estate Ltd (with Harcourts Group owner Stephen Collins as his fellow director), was wound up on 27 September, has had judgment given against him in the Auckland District Court for $22,710 owed to Harcourts Group Ltd.

Murphy Construction Ltd (John Murphy, Penrose) has had judgment entered against in the Auckland District Court for $17,135 owed to the Accident Compensation Corp.

New companies

Aaron Clark Building Ltd has been formed by Aaron Clark, Westmere.

Apex Scaffolding Auckland New Zealand Ltd has been formed by William Williams & Michelle Wiremu, Northcote.

AP Fletcher Building Ltd has been formed by Anthony Fletcher, Meadowbank.

Trevor Murray, Milford, has formed Aptus Architecture Ltd with Collingwood Trustees Ltd (of Tony Schramm’s law firm, Hamilton) holding 950 of the 1000 shares.

Tom Murray (Oceania & Eastern group, headed by Geoff Ricketts & Chris Mace) has formed Bluewater Properties Ltd & Bluewater Investment Holdings, both with Bluewater Group Holdings Ltd, itself a new company, as shareholder. Shares in Bluewater Group Holdings are held jointly by Mr Murray & Mary Cooper.

Cardrona Gold Hamlets Ltd has been formed by Peter Thorburn, Keith Gosling, Robert Fountain & Ross Hawkins.

Shane Hartner (Legacy Construction Ltd, also formerly a director of various companies in his father’s collapsed Hartner Group) has formed Central Joinery Ltd, based in the old Hartner Group premises at 107 Nielsen St, Onehunga.

Husain Ahmed & Sakina Sethna Ali, (Century group & Jaafar Holdings Ltd) have formed a new company, Century Corp Ltd.

Chancery developers Brian Mead & Richard Kroon have formed two new companies, Chancery Three Ltd & Chancery Four Ltd. Highrise developments are planned behind the first stage facing Freyberg Place.

Stephen Fleming (Cintro Holdings Ltd & Strathallan College Property Investments Ltd, among a long list of companies) has formed Cintro Investments Ltd, which has invested in another new company, Wentworth College Property Ltd, with Alexander Findlay (Jamo Holdings Ltd, formerly Escalator Advertising Ltd).

Rick Martin (Cornerstone Group Ltd), with the Nautilus highrise apartment development to be built in Orewa, has formed Tamariki Ltd, Cornerstone Financial Services Ltd & Nautilus Property Management Ltd.

First Mortgage Nominees Ltd & First Mortgage Securities Ltd have been formed by Richard Wallace Herbert & Trevor Toohill. The Securities company owns the Mortgage company, while 49% of the Securities company is held by Provident Trustee Services Ltd (controlled by Mr Herbert).

Emily Place Ltd & Four Seasons Plaza Ltd have been formed by former Wellington developer Michael McCombie, with Sheryn Gieck & Terry Brandon.

Freedom Property Group Ltd, Takapuna, has been formed by John Green.

Premium Securities & Instance Finance directors Nigel & Charmain Nausbaum have brought more family members into a new company, Instant Finance NZ Ltd, with other group partners Peter Mitchell & Roland Ellis also directors.

Jenshai Properties, Sunnynook, has been formed by Jennifer Navot.

Kingston Developers Ltd and MG & JD Investments Ltd have been formed by Michael & Julia Jolley, Pukekohe.

Kosi Bay Investments Ltd has been formed by Leung Kin Wai.

Landco Pastoral Holdings Ltd & Landco Rural Trust Ltd have been formed by Greg Olliver, with the Pastoral shares held by Rural and the Rural shares held by Mr Olliver. His other interests include plans to develop at Long Bay, the Winstone quarry at Mt Wellington & a site across the creek from Gulf Harbour at Whangaparaoa.

Former McDermott Fairgray Group director and current Forsyte Research Ltd director Doug Fairgray has formed Market Economics Ltd with partners Garry McDonald & Gregory Akehurst.

Northland Land Finance Ltd has been formed by Gordon Stewart, Wellington (Metropolitan Finance Ltd, among numerous other directorships), through New Zealand Trust Nominees Ltd, in which he’s a partner with Geoff Cone (Rothschild Trust New Zealand Ltd).

Northland Holdings Ltd, Moerewa, has been formed by Phoebe Adelaide Foley, director of Red Hill Homes Ltd, which is in liquidation and was previously directed by her son, Stephen Foley, now bankrupt. Mrs Foley & Francis Foley hold the shares in the new company jointly.

New Zealand School of Feng Shui Ltd, Mt Albert, has been formed by Paul Van Wetering & Roger Green.

Platinum Pacific Homes Ltd has been formed by Martin Bamford, with another new company, Platinum Pacific Holdings Ltd, holding 99 of the 100 shares. Platinum Pacific’s shares are held jointly by Mr Bamford, Takapuna solicitor David Murray & Robert Bradford.

Property HP Ltd was formed by law firm partners Debra Dorrington & Craig Alexander in February, and they formed Property HP (No 2) Ltd in October, with Syndicated Properties formed in March.

Pueblo Ltd & Pueblo Leases Ltd was formed in early October by Tim Manning (Taradale Properties Group Ltd), Gary McNabb (Allfields Property Group Ltd & the Quest Apartment Group Ltd) & Robert Parkinson (Morrow Taylor Ltd). Pueblo is one of Taradale’s residential developments at Botany. Mr Manning has since gone on to form Marama Resort Ltd, Marama Leases Ltd (with Mr McNabb), Manuka Cove Ltd, The Orchard Ltd & 41 Smales Ltd.

Redvale Developments Ltd has been formed by Alan Davies, of Coatesville.

Regis Properties (Epsom) Ltd has been formed by Chris & Margaret Hook, with Margaret Hook, Raewyn Singleton & solicitor Michael Newdick as joint shareholders. Mr Hook is also a director of several Judder Bar companies.

Mazhar Shukri Krasniqi has formed Rural Development Trustee Ltd, with Fortune Manning Trustee Co Ltd as joint shareholder.

RWB Holdings Ltd has been formed by Stuart Robertson, of Te Atatu, with Fortune Manning law firm managing partner Tony Fortune as joint shareholder.

Shree Sitaram Properties Ltd, Mt Roskill, has been formed by Kishor & Hunsha Mehta.

Sublime Properties Ltd has been formed by Jason Overbo & Suzanne Browne.

Sunnyside Developments Ltd, Mt Roskill, has been formed by Gordon Edginton (Prendos Ltd) & Skeates Simpson Dowsett law firm partner Neil Dowsett.

United Pacific Corp Ltd has been formed by UPC group directors Bryn Jamieson & Michael Reid, who sold the Marac group to Pyne Gould Guinness.

Whitecloud Ltd has been formed by Fred Zhou & Jimmy Wu. Mr Wu was previously a director of Skyescape Ltd, which planned a slim hotel on the corner of Albert & Swanson Sts before selling the site at a discount to James Kirkpatrick.

Greg Wilkinson (Axis Property Group Ltd) has formed Wilkinson Property Group Ltd.

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