John Clancy: Collapse of companies directed by John Edward Clancy prompts call for Companies Office oversight.
Story by Chris Hutching – National Business Review. Monday July 27, 2015 [Read more…]
John Edward Clancy and Global Developments (Waltham) Ltd (In Liq)
John Edward Clancy is recorded on Companies Office Register as the sole director of Global Developments (Waltham) Ltd which was put into liquidation on 22 July 2015 by Order of the High Court under s 241(2)(c) of the Companies Act 1993. The petitioning creditor was the Inland Revenue Department. David Murray Blanchett of PriceWaterhouseCoopers Auckland was appointed by the Court as Liquidator. (This is the third company directed by Clancy that has been put into liquidation in recent months).
John Edward Clancy’s “signature” is recorded on the Director’s Consent Certificate he “signed” sometime on or before the 21 January 2014, which was faxed at 10.21 that day to the Companies Office from Tim Fleming Associated Ltd, registered office Level 5, 64 Khyber Pass Road, Grafton, Auckland, New Zealand. The Certificate was completed by the accountant acting for all the companies John Clancy directs, Richard Townsend Somerville, of Walker Somerville Ld, which has its registered office at Level 5, 64 Khyber Pass Rd, Newmarket, Auckland, 1023 , New Zealand. (Somerville and Fleming work in the same office).
The “John Clancy” signature on the Director’s Certificate would appear NOT to be his. It does not match in any way the signatures on numerous other Director’s certificates he has signed.
John Clancy Signature Director Global Developments (Waltham) Ltd
Compare for example his signature with his signatures involving the incorporation of Global Homes Ltd (now called LF Holdings Ltd) on 8 July 2009.
John Clancy Signature as Director of Global Homes Ltd (now LF Holdings Ltd)
John Clancy Signature as 100% Shareholder Global Homes Ltd (Now LF Holdings Ltd)
[Note: As of 29 November 2011 John Clancy’s individually held ownership in “Global Homes Ltd” was reduced from 100% to 5%. The remaining 95% of the shares were transferred to a Trust of which John Edward Clancy and his wife Youngmee Clancy are the only trustees. As trustees they jointly own the shares with a trustee service company – Clancy Trustee Company Ltd, owned and directed by Somerville].
The Consent Certificate for the shareholder of Global Developments (Waltham) Ltd – FJ40 Trustees Ltd – was signed by Richard Somerville and faxed to the Companies Office at 15:21 on 20 January 2014 from the Office of Tim Fleming Associates Ltd. All the company’s 1000 shares are jointly held by FJ40 Trustees Ltd (owned and directed by Somerville), and the Trust’s single trustee John Edward Clancy.
FJ40 Trustees Ltd Shareholder Global Developments (Waltham) Ltd
To view all the John Edward Clancy directed companies and owners see:
Clancy Trusts and Company Flow Diagram Links (PDF)
MF24 TRUSTEES link to John Clancy companies (PDF)
John Edward Clancy: His Four Trusts and company ownership links revealed
John Edward Clancy has set up four trusts which own all but two of the many companies he directs. These unnamed trusts, for the purpose of our Society’s analysis, are given the following names based on the “trustee services” companies involved in their formation: (1) “Clancy Trust” [Clancy Trustee Company Ltd] (2) “FJ40 Trust” [FJ40 Trustees Ltd], (3) “MF24 Trust” [MF24 Trustees Ltd] and (4) “FUBA Trust” [FUBA Trustees Ltd].
Here are links to two PDFs that set out the various ownership connections. [Note: Because Trusts are not “legal persons” they cannot by law be recorded by name on the Companies Office Register as holding/owning shares. Instead, the full legal names and residential addresses of the trustees of the trust are required to be recorded by the company directors as holding the shares on behalf of the (unnamed) beneficiaries of the trust].
Clancy Trusts and Company Flow Diagram Links
MF24 TRUSTEES link to John Clancy companies
The Society has submitted a number of formal complaints to the Registry Integrity Team of the Companies Office regarding breaches of the Companies Act 1993 by Mr Clancy and his accountant with respect to documentation they have filed with the Companies Office. [Read more…]
John Clancy: Claimed ownership of Global Group Holding Ltd and Global Homes Ltd
John Clancy claims on his current LinkedIn Profile that he is:
Owner, Global Group Holding NZ Ltd
New Zealand, Construction
Current: Global Homes Ltd
Experience: Owner – Global Homes Ltd
https://nz.linkedin.com/pub/john-clancy/2b/851/941
THESE CLAIMS ARE ALL FALSE
John Edward Clancy
(Photo Source: https://nz.linkedin.com/pub/john-clancy/2b/851/941 )
Companies Office Records show that there has never been a company by this name “Global Group Holding NZ Ltd” registered in New Zealand.
However there is one company called Global Group Holdings NZ Ltd (Co. No. 2314973) that was incorporated on 8 September 2009. Its founding sole director was John Edward Clancy who remains its sole director.
See: John Clancy Global Group Holdings NZ
His residential address is recorded on the company’s 2015 Annual Return filed by his accountant Richard Somerville (Walker Townsend Ltd) as 91 Kingsley Street, Sydenham, Christchurch, 8023, New Zealand. This is a false residential address as the property is in a commercial-business zone (classed non-residential).
Companies Office records show that Global Group Holdings NZ Ltd (Co. No. 2314973) has been owned by a Trust – set up by Richard Townsend Somerville’s trustee service company Clancy Trustee Company Ltd (formerly called Somerville Gp Trustee Co. Ltd, since 30 November 2011.
The Trust has two trustees: John Edward Clancy and his wife Youngmee Clancy – both recorded as currently residing at 91 Kingsley Street, Sydenham 8023, New Zealand (which as noted is a false residential address).
Contrary to his claim, John Edward Clancy does not personally own Global Group Holding NZ Ltd (which does not exist as noted), nor Global Group Holdings NZ Ltd. The latter entity is owned jointly by a Trust of which John Edward Clancy is one of two trustees, both holding shares on behalf of beneficiaries (unnamed on the register). Clancy Trustee Company is the other joint owner (with the Trust) and its director – Richard Somerville – holds one share. This company’s registered office and address for service is Level 5, 64 Khyber Pass Rd, Grafton, Auckland, 1023 , New Zealand.
John Edward Clancy owned Global Group Holdings NZ Ltd from 8 September 2009 when the company was incorporated until 30 November 2011, at which time ownership was transferred to the Trust as noted above.
John Edward Clancy claims he is currently an owner and director of Global Homes Ltd. He incorporated this company (No. 2280020) on 8 July 2009 and remains its sole director. He changed its name to LF Holdings Ltd on 28 May 2014. He currently owns (individually) only 5% of the company shares. The remaining 95% he holds jointly as a trustee of the “Clancy Trust” which was set up by his accountant Richard Townsend Somerville. Clancy Trustee Company Ltd, owned and directed by Richard Somerville, is a trustee of the “Clancy Trust”, along with John Clancy and his wife Youngmee Clancy.
See John Edward Clancy directed company connections and Trusts and ownership links here: