Pure 100 Farm Limited, directed by Shanghai-based billionaire Zhaobai Jiang, is a New Zealand registered company that has entered into a sale and purchase agreement to buy the 3,843 hectare Lochinver Station near Taupo which has a capital value of $70.6 million. It is currently awaiting approval from the Overseas Investment Office to proceed with the deal. The company is wholly-owned by the NZ registered company Milk New Zealand Holding Ltd (Co. no. 3883536) which is wholly owned by the NZ registered Milk New Zealand Investment Ltd. The latter company, wholly owned by Hong Kong registered Milk New Zealand Holding Ltd, was incorporated and registered in the tax-haven – British Virgin Island (BVI) according to a June 2014 Report by Hunan Dakang Pasture Farming Co Ltd. The NZ Companies Office website provides no hint that this investment company is an overseas company and only provides a NZ contact address for it: “Suite 1, 139 Vincent Street, Auckland Central, Auckland, 1010, New Zealand”.
Bankrupt company director’s duties to Official Assignee
The Insolvency Act 2006 sets out the “Duties [of a bankrupt] to provide information” to the Official Assignee.
S. 142 Bankrupt must give Assignee accounting records and other documents
- (1) As soon as practicable after adjudication, the bankrupt must—
- (a) deliver to the Assignee, at the Assignee’s office, relevant documents that are in the bankrupt’s possession or control; and
- (b) notify the Assignee of relevant documents that are in the possession or control of any other person.
(2) In subsection (1), relevant documents means all accounting records, papers, deeds, instruments, and other documents relating to the bankrupt’s estate.
Other duties that must be undertaken are spelt out, including:
143 Bankrupt must give Assignee information relating to property
144 Bankrupt must give Assignee information relating to income and expenditure
145 Bankrupt must notify Assignee of change in personal information
SPCS approved as member of Transparency International (New Zealand)
The Society for Promotion of Community Standards Inc. (“SPCS”) has been approved bronze level membership status in Transparency International (New Zealand) Inc. (TINZ) – the recognised New Zealand representative of Transparency International, the global civil society organisation against corruption. SPCS was approved “bronze level”, along with other new members (including the Earthquake Commission), at the TINZ Annual General Meeting held at Archives New Zealand on the 19th of November, 2013. A number of SPCS officers were present at the well-attended event which was preceded by a Special General Meeting to ratify updated TINZ Rules and then followed by several speakers. These included former NZ Governor-General Dame Silvia Cartwright, Labour MP Andrew Little and Minister of Justice Hon. Judith Collins.
See: http://www.transparency.org.nz/2013/Annual-General-Meeting-2013.htm
TINZ is a member of Transparency International, the international organisation leading the movement to eradicate corruption and bribery wherever they occur. SPCS fully supports the activities of TINZ: “Actively promoting the highest levels of transparency, accountability, integrity and public participation in government and civil society in NZ, the Pacific Islands and the world”. See: http://www.transparency.org.nz/
The Truth on Truth Weekender Ltd (Still in Liquidation from 2 July 2013).
The New Zealand Truth was a tabloid newspaper published weekly in New Zealand. It started as the Auckland Truth in 1887. Described as “scandal mongering” and “scurrilous”, it has employed well-known New Zealand authors, including Robin Hyde in 1928. Redma Yska, once a Truth reporter, has recounted how the paper “introduced a `new journalism’ in 1905, which aimed a core diet of sex, crime, radical politics and random muckraking directly at the masses.” He ends by noting that at the end of 2009, “after 104 remarkable years in New Zealand journalism, Truth quietly sank into liquidation. Truth Weekender, complete with 16-page sex industry pullout, quickly took its place. The wicked old title refuses to die.” [see ref. 1]
As SPCS has pointed out in a series of published articles on its blog, since at least 2007, Truth directors’ seeming obsession with porn sleaze and prostitution advertising ( e.g. a regular 16- page “adult services” pullout in The Truth Weekender ) as a means of earning a quick buck, played an important part in its collapse – leading to the liquidation of two companies and numerous creditors left out of pocket.
The announcement in mid-June 2013 of the closing of the paper was followed by its publisher – Truth Weekender Ltd [“TWL”] being put into liquidation on 2 July 2013 by special resolution of the shareholders (at the time the tabloid was called the Truth Weekender). The First Report by the Liquidators listed the company at that time as having 56 creditors. The IRD was estimated to be owed about $30,000, trade creditors $110,630 and related party debt $301,280. The company remains in liquidation with little prospect of any of the unsecured creditors receiving anything.
The Truth Weekender had in fact emerged from the earlier tabloid known as NZ Truth, whose publisher – Truth Publications Ltd (“TPL” incorporated on 17 January 2007), was put into liquidation on 21 October 2009, reportedly owing lenders and creditors over $620,000. [Read more…]
CV fraudster quits business council
The former chief executive and business leader whose CV falsely claimed he had a law degree has quit as chairman of an influential business council.
Michael Vukcevic has resigned as chaiman of the Middle East Business Council, effective immediately, deputy chairman Stewart Germann announced this morning.
Full story see: http://www.stuff.co.nz/business/industries/9775241/CV-fraudster-quits-business-council