Inquiry into property investments by Delta Utility Services Limited at Luggate and Jacks Point.
The report on the OAG probe was tabled at Parliament at 2pm today.
█ AUDITOR-GENERAL’S OVERVIEW and FULL REPORT available at http://www.oag.govt.nz/reports/2014/delta
“My staff found no evidence of impropriety or of poorly managed conflicts of interest in relation to either investment [Luggate and Jacks Point]. However, they did identify some breaches of the Local Government Act 2002 and the Companies Act 1993 and instances of Delta using artificial business structures to avoid public accountability.” –Lyn Provost, Controller and Auditor-General
█ Inquiry into decisions by Delta Utility Services Limited to invest in residential development at Luggate, near Wanaka, and at Jacks Point, Queenstown. 14 November 2012. Link
What was the probe about?
The OAG probe was to cover all aspects of the council-owned company’s decision to spend $14.12 million on property at Jacks Point, in Queenstown, and Luggate, near Wanaka, in 2008 and 2009. That included how and why the purchases were made, consideration of risks, compliance with legislation, and the identification and management of any conflicts of interest, the OAG said at the time. The OAG would also consider to what extent the Dunedin City Council – as the shareholder of Delta’s parent company, Dunedin City Holdings Ltd – was involved, and any other matters considered ”desirable” to report on. (ODT article 14.3.14)
████ Updated 21.3.14 – essential listening ████
### radionz.co.nz Friday 21 March 2014
Morning Report with Geoff Robinson & Simon Mercep
Delta complainants not satisfied with critical report
Reporting by Ian Telfer
08:41 People who made complaints about failed property deals from a Dunedin council subsidiary say it is unacceptable no-one is being held to account.
Audio | Downloads: Ogg MP3 ( 3′ 38″ )
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