Tuesday 12 November 2019
Photo appeal
RAAM legend visit
Page 7
Page 16
Experienced Marlborough sawyers Willie Abel, left, and Robbie Brownlee compete in the double saw final at the Blenheim A&P Show on Saturday. Photo: Peter Jones.
Rose Built Homes used as ‘cash cow’ Reporter
matt@marlboroughmedia.co.nz
The bungling former owners of a defunct building firm may face criminal charges for fraud. Rose Built Homes, which folded in September, has left Marlborough businesses out of pocket to the tune of $1.6 million. Appointed liquidator Brenton Hunt revealed creditors were
unlikely to see any money back, branding the case “one of the worst” he has seen in 25-years. Treating the company as a “personal cash cow” could see former directors Ryan Butler and Kyle Payne in court, he says. And the former directors have turned on each other, with Kyle blaming some of their dodgy dealings on his colleague’s “gambling problems”. The revelation comes amid ru-
First
mours that Kyle has fled the country. Brenton says he can’t stop Kyle from leaving the country. “I can’t stop him traveling until I actually have judgement against him, and even then, a border alert would require details of his actual flight,” he says. “Regardless…he can still be bankrupted here in New Zealand.” Local contractors and businesses
have been left high and dry, with one secured creditor owed more than $500,000. Investigations uncovered a raft of costly personal purchases bought using company funds. Boats, motorcycles and cars bought on finance were being paid from company accounts but registered to the company directors. But Brenton says he doubts any money will be paid out to any
class of creditor. “There were very few assets to be collected. Some office equipment and limited tools were collected from the office. “The majority of these were returned to Christchurch and sold by Mainland Auctions, limited amount were sold to interested parties in Blenheim.” “A number of creditors have
SEE PAGE 2
Licensed Agent REAA 2008
count locally owned and operated
Summer is just around the corner which means more sunshine, warmer weather and the holiday season! List with First National Marlborough by the end of November and we will give you a $300 helping hand towards making your property shine.
Call 578 8059 today to find out more. www.marlboroughweekly.co.nz
Terms and conditions apply
Matt Brown