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where cushing family wealth has been involed his record is excellent.
only follow him if large amount of family flesh is on the line,then make sure you donot stand between him and a $
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Member
 Originally Posted by percy
where cushing family wealth has been involed his record is excellent.
only follow him if large amount of family flesh is on the line,then make sure you donot stand between him and a $
So as long as he sticks to farming then hes ok? It seems that hos problem was stepping out of farming into stuff he had no chance of understanding and then causing all sorts of stuff ups. A quick look at the companies he has run just AIrNZ and BNZ needed over $1.5bill in bail out funds!!! Not counting all the losses on his other companies!! He still owes NZ a huge amount!!
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Originally Posted by Nevl
So as long as he sticks to farming then hes ok? It seems that hos problem was stepping out of farming into stuff he had no chance of understanding and then causing all sorts of stuff ups. A quick look at the companies he has run just AIrNZ and BNZ needed over $1.5bill in bail out funds!!! Not counting all the losses on his other companies!! He still owes NZ a huge amount!!
It would appear he has done very well with his own money!
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Member
Originally Posted by Anna Naum
It would appear he has done very well with his own money!
Skellerup?
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Originally Posted by minimoke
Heres a copy of parts of my register. Sorry about the layout. I don't know how to paste excel in here. Use at your own risk.
Mascot Finance 3/03/2009 Brian Kreft Judith Lane Kenneth Lane David Stock
Orange Finance 18/08/2008 Doug Somers-Edgar
St Kilda Finance (All Purpose Finance) 24/08/2008 John Farry Peter Hutchison Olive Matson Stuart Perry Wendy Stein
Strategic Finance 8/08/2008 Kerry Finnigan Michael Hobbs Graham Jackson Marc Lindale Denis Thom David Wolfendon
Hanover Finance 23/07/2008 Mark Hotchin Eric Watson (Richard Long in the Ads) Greg Muir Tipene O'reagan
Guardian Trust Cash Plus 29/07/2008
AMP Capital NZ Property Fund 1/08/2008
AXA Property 5/08/2008
Dorchester Finance Ltd 25/06/2008 Paul Byrnes Michael Fisher John Gosney Barry Graham
St Laurence Ltd 24/06/2008 Kevin Podmore Sandra Lee
Majority Shareholder: Dorchester Pacific
Dominion Finance Holdings 18/06/2008 Vance Arkinstall Richard Bettle Ann Butler Terrence Butler Rober Whale Paul Forsyth Majority Shareholder: South Canterbury Finance, ACC
IMP Diversified Income Fund 6/06/2008 Christopher Alp Ruth Richardson
Majority Shareholder: ICPL Ltd
Belgrave Finance Ltd 28/05/2008 Shane Buckley Stephen C Smith
Majority Shareholder: Investment Enterprises Ltd
OPI Pacific Finance (previous MFS Pacific Finance) 18/05/2008 Jason Maywald
Majority Shareholder: OPI Pacific Ltd
Fairview NZ (previous name Cymbis NZ) 13/05/2008 Owen Tallentire
Majority Shareholder: Sprinbook Trustees. Direcotr Wayne Douglas, Neal Nicholls)
Kiwi Finance 15/04/2008 Rodney Greenshill Barry Lambert
Majority Shareholder: Kiwi Capital / Tasman Capital - Director David Hopkins)
Lombard Finance and Investments 3/04/2008 Lawrence Bryant Sir Douglas Graham Hon William Jeffries Michael Reeves
Majority Shareholder: Lombard Group
MFS Boston (Subsidiary of Australina MFS)
Numeria Finance 17/02/2007 Neal Nicholls Owen Tallentire
Capital + Merchant Finance 29/11/2007 Neal Nicholls Colin Ryan Robert Sutherland Owen Tallentire
Capital + Merchant Investments 29/11/2007 Neal Nicholls Owen Tallentire
Geneva Finance 16/10/2007 David O'connell Peter Francis
Beneficial Finance 11/10/2007 Kane Oldham Mervyn Oldham Simon Oldham
Clegg and Co Finance 5/09/2007 Brian Clegg (edit 16/12> Got 1 year Home Detention on two charges)
LDC Finance 4/09/2007 Kevin Elliott Christopher Hardiman David Miller
Finance and Investments 5/09/2007
Five Star Consumer Finance 30/08/2007 Anthony Bowden Nicholas Kirk Marcus Macdonald
Property Finance Securites 29/08/2007 Daryll Queen Barnaby Sundstrum
Majority Shareholder: Property Finance Group Ltd
Nathans Finance 21/08/2007 Mervyn Doolan Keneth Moses Donald Young
Bridgecorp 2/07/2007 Bruce Davidson Rodney Petricevic Cornelius Roest Peter Steigrad Gary Urwin
Western Bay Finance 1/08/2006 Donald Johnston James Smylie Kaaren Smylie
Provincial Finance 1/06/2006 John Edilson Phillip Wheeler (colin Meades in the Ads)
National Financial 2000 1/05/2006 Anthoiny Bandbrook Carol Braithwaite Trevor Ludlow
Edit
Feltex Tim Saunders, Sam Magill, John Feeney, Craig Horrocks, Peter Hunter, Peter Thomas and Joan Withers
Blue Chip Mark Bryers Bob Bangerterl.
16/12. Selwyn Cushing for BIL, Air NZ, BNZ, Ansett (?) CableTalk (thanks nevl / percy)
Capital + Merchant collapses, $167m owed
Grant Thornton says debenture holders can expect only 2 cents in the dollar and that is before interest owed on the Fortress debt and the receivers' fees have been paid.
http://www.stuff.co.nz/business/3175...pses-167m-owed
Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt – either directly by abolishing large slabs of it, or indirectly by inflating it away.
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Originally Posted by Dr_Who
Ah, yes - the ones with $90m in related-party loans and $80m of that undisclosed.
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independant 17th dec 2007.
The Dead Hand Director award.
the 2009 award goes in chalkie,s opinion to ruth richardson.
as chair of the IMP diversified income fund she headed one of the many financial type of syft she presided over a board companies that had to tell investors in moratorium that they wouldn,t be getting all their money back as previously promised.
as chairwoman of syft she presided over a board where you have to question if self-interest fractions effectively handicapped the chances of a successful refinancing of the business in late 2008,
as a synlait director she has seen the IPO pulled.the board must take some blame for the issue,s unrealistic pricing.
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Originally Posted by minimoke
Heres a copy of parts of my register. Sorry about the layout. I don't know how to paste excel in here. Use at your own risk.
Mascot Finance 3/03/2009 Brian Kreft Judith Lane Kenneth Lane David Stock
Orange Finance 18/08/2008 Doug Somers-Edgar
St Kilda Finance (All Purpose Finance) 24/08/2008 John Farry Peter Hutchison Olive Matson Stuart Perry Wendy Stein
Strategic Finance 8/08/2008 Kerry Finnigan Michael Hobbs Graham Jackson Marc Lindale Denis Thom David Wolfendon
Hanover Finance 23/07/2008 Mark Hotchin Eric Watson (Richard Long in the Ads) Greg Muir Tipene O'reagan
Guardian Trust Cash Plus 29/07/2008
AMP Capital NZ Property Fund 1/08/2008
AXA Property 5/08/2008
Dorchester Finance Ltd 25/06/2008 Paul Byrnes Michael Fisher John Gosney Barry Graham
St Laurence Ltd 24/06/2008 Kevin Podmore Sandra Lee
Majority Shareholder: Dorchester Pacific
Dominion Finance Holdings 18/06/2008 Vance Arkinstall Richard Bettle Ann Butler Terrence Butler Rober Whale Paul Forsyth Majority Shareholder: South Canterbury Finance, ACC
IMP Diversified Income Fund 6/06/2008 Christopher Alp Ruth Richardson
Majority Shareholder: ICPL Ltd
Belgrave Finance Ltd 28/05/2008 Shane Buckley Stephen C Smith
Majority Shareholder: Investment Enterprises Ltd
OPI Pacific Finance (previous MFS Pacific Finance) 18/05/2008 Jason Maywald
Majority Shareholder: OPI Pacific Ltd
Fairview NZ (previous name Cymbis NZ) 13/05/2008 Owen Tallentire
Majority Shareholder: Sprinbook Trustees. Direcotr Wayne Douglas, Neal Nicholls)
Kiwi Finance 15/04/2008 Rodney Greenshill Barry Lambert
Majority Shareholder: Kiwi Capital / Tasman Capital - Director David Hopkins)
Lombard Finance and Investments 3/04/2008 Lawrence Bryant Sir Douglas Graham Hon William Jeffries Michael Reeves
Majority Shareholder: Lombard Group
MFS Boston (Subsidiary of Australina MFS)
Numeria Finance 17/02/2007 Neal Nicholls Owen Tallentire
Capital + Merchant Finance 29/11/2007 Neal Nicholls Colin Ryan Robert Sutherland Owen Tallentire
Capital + Merchant Investments 29/11/2007 Neal Nicholls Owen Tallentire
Geneva Finance 16/10/2007 David O'connell Peter Francis
Beneficial Finance 11/10/2007 Kane Oldham Mervyn Oldham Simon Oldham
Clegg and Co Finance 5/09/2007 Brian Clegg (edit 16/12> Got 1 year Home Detention on two charges)
LDC Finance 4/09/2007 Kevin Elliott Christopher Hardiman David Miller
Finance and Investments 5/09/2007
Five Star Consumer Finance 30/08/2007 Anthony Bowden Nicholas Kirk Marcus Macdonald
Property Finance Securites 29/08/2007 Daryll Queen Barnaby Sundstrum
Majority Shareholder: Property Finance Group Ltd
Nathans Finance 21/08/2007 Mervyn Doolan Keneth Moses Donald Young
Bridgecorp 2/07/2007 Bruce Davidson Rodney Petricevic Cornelius Roest Peter Steigrad Gary Urwin
Western Bay Finance 1/08/2006 Donald Johnston James Smylie Kaaren Smylie
Provincial Finance 1/06/2006 John Edilson Phillip Wheeler (colin Meades in the Ads)
National Financial 2000 1/05/2006 Anthoiny Bandbrook Carol Braithwaite Trevor Ludlow
Edit
Feltex Tim Saunders, Sam Magill, John Feeney, Craig Horrocks, Peter Hunter, Peter Thomas and Joan Withers
Blue Chip Mark Bryers Bob Bangerterl.
16/12. Selwyn Cushing for BIL, Air NZ, BNZ, Ansett (?) CableTalk (thanks nevl / percy)
So, in todays news:
The Securities Commission has laid criminal charges and issued civil proceedings against Capital + Merchant Finance directors Neal Nicholls, Owen Tallentire, Colin Ryan and Robert Sutherland.
Criminal charges have also been laid against Wayne Douglas, who resigned as a director in February 2007.
These proceedings follow extensive investigations by the Commission since Capital + Merchant Finance went into receivership on 23 November 2007 owing approximately $167 million to some 7,000 investors. According to the receivers it is likely that none of this will be recovered."
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Member
Originally Posted by Anna Naum
I just reread this article and had cause to reflect on the striking number of former National Party cabinet ministers who have been, or still are, directors of failed or failing companies. It seems that the oft repeated dogma about government's inability to run businesses is something of a red-herring; the real problem, and one that ought to cause all involved acute embarrassment, seems to be the lack of business competence of those who make their way to the top of the National Party.
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And in todays news;
" A former National Cabinet minister is to be charged for misleading investors during his directorship of failed finance company Lombard Finance.
The Securities Commission announced today that it would launch civil proceedings against four Lombard directors, Sir Douglas Graham, Michael Reeves, William Jeffries and Lawrence Bryant.
Mr Graham was Minister of Justice and Attorney-General for a National Party-led Government during the 1990s."
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