Marlborough Weekly - 12 November 2019

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Tuesday 12 November 2019

Photo appeal

RAAM legend visit

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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

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count locally owned and operated

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Call 578 8059 today to find out more. www.marlboroughweekly.co.nz

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Matt Brown


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Marlborough Weekly - 12 November 2019 by TSM Marlborough - Issuu