U: The names behind the action, week to 7 October 2001

New companies, old names, a few breakages

This page on The Bob Dey Property Report is called simply U.

It 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.

7 October 2001

New York Gear Ltd (Peter Watt) has had district court judgment entered in favour of Kiwi Property Holdings Ltd (Richard Didsbury & Ross Green) for $26,250.

New companies:

Rob Buckett of Diva Corp Ltd has formed Arbuck Ltd.

Stephen Brett Ashby has formed British Pubs NZ Ltd. He is a director, with Daphne Fourie, in City of Sails Finance & Insurance Ltd. Daphne Fourie, director of the Mad Dogs & Englishmen chain, is also director of two new companies formed in September, Oceans (Takapuna) Ltd & One Italy (Epsom) Ltd.

Restaurateur Leo Molloy keeps expanding his Doolans business. New companies in that line are Doolans Management Ltd & Doolans Takapuna Ltd, both owned by Doolans Holding Ltd

A new Cornerstone company, not associated with developer Rick Martin, is Cornerstone Realty Ltd, with Bruce Stokes as director. Mr Stokes also formed Home 4 Rent Ltd in September.

Starline Group’s Jamie Peters has formed EOQ 62 63 & 64 Ltd, Holding Company 1 Ltd, Holding Company 2 Ltd & Light & Star Investments Ltd. The company holding consents for the three new office buildings Mr Peters plans to erect at Quay Park is East on Quay Developments Ltd.

Eric Watson’s Cullen Capital Ltd has formed Genstar Investments Ltd (directors Phil Newland, Maurice Kidd & Mohindar Singh Randhawa).

The low-cost housing organisation Habitat For Humanity keeps expanding. Latest company under this umbrella is Habitat For Humanity Ormiston Ltd.

Andrew Krukziener formed Sovi Bay Ltd on 4 September, Heron Parnell Ltd on 5 September. I’m told Mr Krukziener couldn’t resist trading in the Lamborghini for a new $500,000 Bentley about the same time.

Hopper Developments Ltd (Leigh Hopper & Howard Jury) has set up some new companies, Hopper Properties Ltd, Hopper Senior Management Ltd, Maygrove Care Ltd & Maygrove Village Ltd.

Westgate developers Mark Gunton & Bryce Donne set up seven new companies on 5 September, all under the IMF group. Sanzuki Ltd has Mr Donne & Neilson Murdoch Harris as directors. Jabus Ltd has Mr Gunton & Mr Harris as directors. The companies, with shareholdings, are IMF Backstop Ltd (Sanzuki 500/Jabus 500), IMF Nautica Ltd (333/667), IMF Parkave (333/667), IMF 2001 Ltd (333/667), IMF 2002 Ltd (400/600), IMF 2003 Ltd (450/550), IMF 2004 Ltd (500/500). IMF Westland Ltd was set up last December.

For the Otahuhu business district, Keep Otahuhu Strong & Healthy Inc was formed on 29 August, address 133 Luke St.

Land Information Northland Ltd, Whangarei, has been formed by Bryce Woodward & Richard Henry, of Reyburn & Bryant 1999 Ltd.

Location Group Ltd (Roy Richardson & Mark Weipers) has formed Location Avondale Ltd with an 80% shareholding by Location Commercial Ltd and 20% by UPC Capital Ltd (Michael Reid & Bryn Jamieson).

Queen City’s John Williams has moved on from the White Heron to form Mamie Street Holdings Ltd. Mamie St: Two down Middleton Rd from Remuera Rd, opposite Broadway Park.

Mark Perriam & Cameron Marsh have formed Marcam No 2 Ltd, with most of the shares held through their trust companies (Dacre & Mclaren respectively).

Metal Building Systems Pty Ltd has formed Metal Building Systems NZ Ltd (the Australian company holding 700 shares, Kerry James 300, Ray Appleton the director, registered office Minter Ellison Rudd Watts).

Mitchell Realty Holdings Ltd, Birkenhead, was formed on 3 September with 50 shares held by Carole Mitchell and 50 jointly by David Logan Samuel (the lawyer who ran Registered Securities Ltd and was jailed for fraud after its collapse), accountant Kevin Rainey, Grant Elliott & Colin Elliott. Directors are Carole Mitchell & Fay Heywood. Mitchell Realty Ltd is a separate company with Keith Croggon as director.

Redwood Group’s Tony Gapes has formed Omaha Beach Houses Ltd.

Roger Barry, once of building firm Filleul Barry Ltd but now with a much wider span of interests (still with Warwick Filleul as a partner), has formed Oscilla Group Ltd with Russell O’Kane as the second director. They also have several companies with the Ocilla name in them.

Russell O’Kane (above) is also a director & shareholder of Super Hot Water Heating Systems Ltd, with James Piper & Peter Clark (of Clark Energy Design Ltd).

Symphony Group’s Colin Reynolds and Dunedin businessman Howard Paterson formed Otago Station Estates Ltd on 14 September with Symphony Developments director Damon Reynolds and Stephen Cozens also directors. Shares are held by Otago Viticulture Trust Ltd (50, c/- Albert Alloo in Dunedin), Symphony Investments Ltd (49) and Colin Reynolds (1).

In a separate creation on 11 September, Mr Paterson formed Auripo Holdings Ltd with Michael Guthrie & Alistair Broad.

Peter Lineen, of Chester Grey Chartered Accountants Ltd, Papatoetoe, has formed Pacific Hotel Investments Ltd through Invest N’ Grow Ltd.

Latest company for the Cook/Struyck development team is Riviera 43 Ltd (Shane Frith, the shareholder, Mr Frith, Chris Cook & Bastiaan Struyck directors). 10 September: Chris Cook adds that he’s had a few calls about the boat, but unfortunately there’s no boat. “It’s a holding fund for some bits & pieces that hopefully will one day lead to a boat.”

Northplan Financial Services Ltd director Kelvin Syms has taken a joint shareholding interest in Seaview Retirement Park Holdings Ltd, Whangarei Heads Rd, with Alan Ross & Leigh Elder. All three are directors.

St Clair Park (Henderson) retirement village developer John Ede has formed St Clair Park Management Ltd, with former Dunedin roofing company owner Andrew Ballintine as joint owner.

Planning consultant Lee Joffe and former Rodney District Council planner Shane Hartley have formed Terra Nova Planning Ltd.

Graeme Udy has formed Top Bays Realty Ltd.

Unsworth Developments Ltd has been formed by Ken Kells & Gordon Hogg, with Andrew Hogg & Howard Morrison also joint shareholders as trustees.

6 October 2001

Elmo Holdings Ltd (Alfonso Liguori) was placed in the hands of receivers Jeff Meltzer & Arron Heath (Meltzer Mason Heath) on 26 September, on the basis of a December 1997 debenture to Vereinsbank International SA, Luxembourg. Mr Liguori, a hairdresser turned fashion clothing manufacturer & property dealer, was bankrupted for three years from 13 March 1991 and later worked with the Healey brothers on several city projects. He fought bankruptcy for three years before filing a debtor’s petition. Creditors’ claims reached $26 million.

Malibu Homes Ltd (Matthew Hutchinson), incorporated on 15 October 2000, didn’t quite last a year. It was wound up by the shareholders on 2 October with Robert Merlo appointed liquidator.

John Buchanan & Steve Hotchin (Buchanan & Associates) were appointed liquidators of Ambrico Apartments Ltd and United Homes 1994 Ltd (both Garry Grant & Max Mathers) on 21 September.

Group CDA Ltd (Brett Kelland Taylor) faces liquidation at the hands of Inland Revenue, Auckland High Court, 10am Thursday 11 October.

San Sebastian Holdings Ltd (Joanne Dempsey & Peter Finlay) faces liquidation at the hands of QS Building Ltd (John & Quentin Stevenson) in the Auckland High Court at 10.45am on Thursday 1 November.

The liquidators of Red Hill Homes Ltd, Jeff Meltzer & Arron Heath, have fixed Friday 2 November as the date creditors must file claims by. That might be upset by opposition to their appointment.

Jeff Meltzer & Karen Mason (Melzter Mason Heath) were appointed liquidators of Pergola Properties Ltd (Heather Bills) on 1 October and have fixed Friday 9 November as the day creditors must file claims by.

5 October 2001

The public examination of former Britomart promoter & Savoy Equities Ltd director Jihong Lu will be resumed in the Auckland High Court on Friday 12 October at 10am.

Harts Management Ltd (ex-Reeves Moses Hudig & Co Ltd, Steven Hart) was placed in the hands of receivers Colin McCloy & Richard Agnew of PricewaterhouseCoopers on Thursday, under the March 2000 debenture of Sovereign Ltd, which sold the troubled Reeves Moses business to the Brisbane accountant who wanted to spread his firm around Australia & New Zealand. Now he’s spread all over the floor: the Federal Court appointed provisional liquidators on Tuesday to Harts Australasia Ltd & 35 subsidiaries on the application of the Australian Securities & Investments Commission. Its application to wind up the group has been adjourned to 31 October. Mr Hart, 49, was charged on Thursday with 11 counts of fraud involving $A5 million. Harts Australasia was floated in May 2000 but lost $A93 million in the June 2001 year.

Former Barfoot & Thompson auctioneer Mike Williams finished the highly successful ANZ Bank branch portfolio auction series for Colliers Jardine in September, then moved back to B&T’s commercial division last week in a mixed role — running auctions, selling & helping other staff. His last six months of free-ranging has included a strong run of charity auctions (at no charge) — a sales tally of $890,000 so far, four to go for the year, “so I’ll crack $1 million.”

The Barfoot & Thompson commercial division will be joined in the Chancery development before Christmas by the auction room, marketing division, directors, property management & accounts. They’ll move in upstairs from the commercial division, leaving head office sales and the rentals division in the old Commerce St premises. The firm’s North Shore branch got a new manager on Monday, Russell Maxwell, up from Papakura.

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