Receivership issues.
Discussion
I've come across what I believe is a significant theft of money by a receiver. Bear in mind this is New Zealand, but I suspect the rules are very similar to the UK. (1NZ$ = 58p)
A lady borrowed $1.8m to buy a motel near Auckland in 2009, she used a Limited company to put everything through.
The lenders put the company into receivership in 2011.
The lenders got a court judgement against her personally for $2.3m in 2012.
She was made bankrupt in 2013 (and still is).
The receiver ran the motel for four years, and has not accounted for any of the turnover.
The property was sold in 2015 for $4.15m, all the money went to the receiver.
The company was put into liquidation by the receiver in 2016, because he said there was no money!
As I understand it, the receiver is only there to get the money back for the lender, and as soon as this is done the company, together with any surplus, should be handed back.
By my reckoning there is over $2,000,000 unaccounted for, and the receiver is trying to cover it all up with the liquidation (plus he refuses to talk to the liquidator).
The person who lent the money, is a joint director of a company together with the receiver.
The solicitor uses by the lenders at the court hearing is a joint shareholder with the receiver, in the company that did the receivership.
I have told her to go to the police as it would appear to be theft.
Just wondered if anyone had come across anything like this before?
The receiver is an accountant (but not chartered). By coincidence he is the accountant to a crooked solicitor who I have laid a compliant with the police about perjury (he claimed in a sworn affidavit to be the sole shareholder in a small company when he was a 50% shareholder, in an attempt to commit a $209,000 fraud, fun times.)
A lady borrowed $1.8m to buy a motel near Auckland in 2009, she used a Limited company to put everything through.
The lenders put the company into receivership in 2011.
The lenders got a court judgement against her personally for $2.3m in 2012.
She was made bankrupt in 2013 (and still is).
The receiver ran the motel for four years, and has not accounted for any of the turnover.
The property was sold in 2015 for $4.15m, all the money went to the receiver.
The company was put into liquidation by the receiver in 2016, because he said there was no money!
As I understand it, the receiver is only there to get the money back for the lender, and as soon as this is done the company, together with any surplus, should be handed back.
By my reckoning there is over $2,000,000 unaccounted for, and the receiver is trying to cover it all up with the liquidation (plus he refuses to talk to the liquidator).
The person who lent the money, is a joint director of a company together with the receiver.
The solicitor uses by the lenders at the court hearing is a joint shareholder with the receiver, in the company that did the receivership.
I have told her to go to the police as it would appear to be theft.
Just wondered if anyone had come across anything like this before?
The receiver is an accountant (but not chartered). By coincidence he is the accountant to a crooked solicitor who I have laid a compliant with the police about perjury (he claimed in a sworn affidavit to be the sole shareholder in a small company when he was a 50% shareholder, in an attempt to commit a $209,000 fraud, fun times.)
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