LGOIMA requests to DCC from Colin Stokes #Delta #Noble #Yaldhurst

Received from Colin Stokes
Wed, 3 Aug 2016 at 12:30 p.m.

These emails are being circulated to national broadcast and print media today.

Colin Stokes, caveator and plaintiff, is one of the original landowners of the Noble Subdivision application (Yaldhurst, Christchurch).

In short, Delta, with its controlling interest at Noble, has joined with other parties, in the ongoing repeated attempt to defeat the known prior interests of Mr Stokes, Greg Smith, and others.

Those parties with Delta appear to have connived to form a new consortium to purchase and control the development, with ongoing cheap money from Dunedin Ratepayers to prop up their own private fortunes.

Life has never been so good for Mr Crombie, does he work for the likes of Justin Prain, Gordon Stewart, Murray Valentine, Murray Frost, Paul Croft
—Or us, poor little us who bleed.
Rhetorical.

Noble is like Sticky Pudding for fatsos.

Here are some straight shooting questions in public domain —for Transparency, that old so OLD concept not known to DCHL / Delta and the Noble / Gold Band bandits.

[Updated LGOIMA request]

From: Colin Stokes
Sent: Wednesday, 3 August 2016 12:27 p.m.
To: Sue Bidrose [DCC]
Subject: RE: LGOIMA: Noble Yaldhurst Subdivision Christchurch Delta DCC

Dear Dr Bidrose

Could I please amend my LGOIMA question number 4 below?

It was both Noble and Gold Band that enticed Delta to provide infrastructure and services at Delta’s cost on the promises of “agreements to have first-ranking first mortgages registered over the land.

Noble owned the land (it having been transferred to Noble by the neighbours for promises alone), and Gold Band held the thinly spread first mortgage over all 9 titles.
The enticement (recorded in their security sharing agreements):-
a. Noble agreed to give Delta “first-ranking first mortgages over the land” if Delta did the works at Dunedin ratepayers expense;
b. Gold Band agreed to swap priority of its first mortgage in favour of Delta over certain Lots if Delta did the works at Dunedin ratepayers expense;

c. Noble then reneged on providing the interests protected by the caveats that prevent Delta’s agreements to mortgage from being registered.
d. Gold Band (and Noble) (and with Deltas insistence apparently) then, under the guise of Gold Bands power of first mortgagee (despite its only 32.5% ownership of it), ran a mortgagee sale tender that lapsed Delta’s caveats protecting their agreements to mortgage used to entice the works.
Subordinate caveats, behind Deltas caveats, that protect the interests of [parties] associated with Nobles did not lapse in the tender documents; such as Southpac which is controlled by Nobles sole director Gordon Ralph Stewart.

So question 4 should correctly read:-

4 updated.
the total sum of “agreements to mortgage” given by Noble Investments Ltd (NIL) and Gold Band Finance Ltd to Delta to entice Delta to do work for them at Dunedin ratepayers costs?

Thanks and regards
Colin

[original LGOIMA request]

From: Colin Stokes [mailto:stokesy@xtra.co.nz]
Sent: Tuesday, 2 August 2016 11:07 p.m.
To: ‘Sue Bidrose’
Subject: LGOIMA: Noble Yaldhurst Subdivision Christchurch Delta DCC

Chief Executive Officer
Dr Sue Bidrose
Dunedin City Council (DCC)

LGOIMA: Noble Yaldhurst Subdivision Christchurch Delta DCC

I am one of dozens of resident owners in the above subdivision. We have prior interests from 2002 in the land that Delta has mortgages and shared mortgages and agreements to mortgages on.

I am also one of the residents that lodged caveats to protect these interests. I gave my caveators’ consent required of Delta to register its mortgage on the land. The consent was given on the clear condition and acceptance that the work Delta was securing with the mortgage included for the interests that the mortgagor/developer Noble owed us. Noble and Delta both agreed.

However we later discovered Noble and Delta had already designed a plan before they approached us whereby Delta was given the power (illegally under the Property Law Act) to instruct the first mortgagee Gold Band to do as Delta instructed in relation to defeating our caveats.

Noble and Delta then jointly constructed the works not including our provisions as agreed and making them impossible.

Delta later bought a 67.5% share of Gold Bands first mortgage (this too is illegal under the Property Law Act s84 – partial assignments are not permitted)

Delta then used Gold Band as planned to use their first mortgage position in Court to defeat our caveats to recover Delta’s subordinate debts.

We tried to redeem Gold Band and Delta’s shared first mortgage in 2014 but they refused us (we later found out that this was illegal under the Property Law Act as well – s102). We tried again recently but they illegally demanded double what it is worth and wouldn’t answer our request for information that we require to legitimately redeem it.

I understand they now propose to sell the land by way of mortgagee sale to defeat our caveat protection, despite that it’s illegal to do so given our prior interests and two refused requests to redeem the first mortgage.

I also understand from media statements and statements made in public Council meeting, that Delta are seeking to write off millions of dollars of debt in the subdivision ($25m debt due in Feb 2016) and are now only “chasing $13.3m”.

I have information that Noble gave Delta a mortgage (with our caveators’ consent), and agreements to mortgage subject only upon our caveats being defeated or removed, to a total of at least $22.7m. This seems peculiar that if Delta can have $22.7m in security that it would write off above $13.3m of what the law would require MUST go to ratepayers.

I am aware that DCC 100% own Dunedin City Holdings Ltd (DCHL) and that DCHL 100% own Delta Utility Services Ltd; so under the Local Government Official Information and Meetings Act (LGOIMA), in relation to the Noble Yaldhurst Subdivision Christchurch, please provide:-

1. the valuation’s for the mortgaged property that DCC is relying on in its proposal that Delta must lose multiple millions of dollars in debt due to Dunedin ratepayers (despite having “securities in the land that covers the debt” according to Delta media releases)?

2. the total debt due to Delta from the subdivision (actual debt including what Delta consider to be doubtful it can recover)?

3. the total debt secured on the land in mortgage? a/ share of first mortgage? and b/ second mortgage amount including interest?

4. the total sum of “agreements to mortgage” given by Noble Investments Ltd (NIL) to Delta to entice Delta to do work for them?
{See email above for new wording to 4. -Eds}

5. the tender documents and agreements that are, or have been, before DCC for their consideration including how those amounts are proposed to be distributed?

6. DCC’s responses to the people with caveated prior interests in the land who have presented and sought to present and discuss alternative proposals with the Council, including that of redemption and transfer?

7. correspondence and/or actions taken to contact and liaise with existing resident stakeholders with known prior interests in the land and in the development?

Kind regards
Colin Stokes
021 2200622

█ For more, enter the terms *delta*, *noble* or *epic fraud* in the search box at right.

Posted by Elizabeth Kerr

Election Year. This post is offered in the public interest.

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8 Comments

Filed under Business, Construction, DCC, DCHL, Delta, Democracy, Design, District Plan, Economics, Finance, Geography, Housing, Infrastructure, Name, New Zealand, OAG, Ombudsman, People, Perversion, Politics, Project management, Property, Public interest, Resource management, SFO, Site, Town planning, Transportation, Travesty, Urban design

8 responses to “LGOIMA requests to DCC from Colin Stokes #Delta #Noble #Yaldhurst

  1. Elizabeth

    VIDEOS
    Noble Village Yaldhurst Subdivision

    Harcourts Published on Jun 7, 2016
    Yaldhurst – Mortgagee Tender – Tim Sprott – Avonhead
    Yaldhurst Road, Yaldhurst Tim Sprott

    pedaller1’s channel Published on Apr 12, 2014
    Spine Road, Noble Village, Yaldhurst, Christchurch
    Some background on Sir John Mackenzie Ave, (Spine Road), Noble Village, Yaldhurst, Christchurch

  2. Elizabeth

    Old news from the cream sponge

    via http://www.scoop.co.nz/stories/PO1603/S00041/yaldhurst-debt-recovery.htm

    Yaldhurst Debt Recovery
    Thursday, 3 March 2016, 9:58 am
    Press Release: Dunedin City Holdings

    Yaldhurst Debt Recovery

    Dunedin (3 March 2016) –Delta is confident progress is being made to recover the debt it is owed by the Yaldhurst developer for infrastructure work it carried out inside the Yaldhurst Village subdivision more than three years ago.

    The Chair of Dunedin City Holdings (DCHL), Graham Crombie says Delta is focused on recovering the $13.3m it is owed for the civil and water work it completed at Yaldhurst between 2009 – 2013, but hasn’t been paid for by the developer.

    “There has been some misinformation given about our process on this matter. Delta has provided regular updates to their shareholder, Dunedin City Holdings Ltd, who have in turn informed Dunedin City Councillors in briefings throughout the project. Let me be clear, this is an overdue debt on work carried out by Delta for a client, it is not an investment in property.”

    Mr Crombie says recovery of the debt has been held up by a longstanding dispute between the developer and the neighbouring properties which has delayed titles being issued for the subdivision.

    “With the Yaldhurst Village subdivision on the market as part of a mortgagee sale process we are much closer to a resolution of this matter.”

    ENDS

    *Italics by whatifdunedin

    • Colin

      There was no dispute with the neighbour’s when Delta first invested in the property. Some neighbour’s (including me) had lodged caveats to protect our interests in the land and there was no dispute with Noble they were due.

      Delta and Noble required our caveators’ consent for Delta to register a second-mortgage behind our caveats. Delta and Noble both assured us our consent would enable them to provide those interests. We gave our consent on that strict basis and then Delta and Noble reneged causing Mr Crombie’s “dispute”.

      Worse … we later discovered Delta and Noble and first mortgagee Gold Band had hatched a plan to defeat our caveats before they approached us for our consent.

      Gold Band assigned power to Delta over the first mortgage for Gold Band to do as Delta instructs from Gold Band superior first mortgage position (Not legal under s84 Property Law Act). Emails from Delta’s lawyer David Smillie spell out the plan’s intent to defeat our caveats in favour of Delta’s subordinate investment (“to cheat a person of a known interest” = FRAUD).

  3. Gurglars

    Just how does buying a mortgage not constitute an investment in property? And how does doing subdivision work in order to gain a lien over property not constitute an investment in property. Crombie is not only a user of weasel words but also not a student of the English language.

    • Colin

      His not [being] a student of the English language extends to his repetition that “Delta is chasing a $13.3m debt”, instead of “Delta is chasing $13.3m “of a” debt (of $25m plus).

      Another way of correctly writing this is “Delta is forgoing a minimum $11.7m debt due to ratepayers”.

      His English is also wrong when he says
      “Delta has securities to cover the debt” – if this was so there would be no loss.

      What Crombie could accurately say is
      “If Delta works with the caveators (rather than Noble and Gold Band who stitched them up), then Delta could:-

      – register existing “agreements to first-ranking first mortgages” of an additional $17.6m on top of their $5m second mortgage

      – ie giving Delta a minimum $23.6m security in relation to the infrastructure works

      – plus its 67.5% investment in the first mortgage now estimated to be worth $5.7m.

      That is, $29.3m combined first-ranking mortgages

      That is, $16.0m MORE first ranking security than the $13.3m they are chasing.

  4. Elizabeth

    Receipt of the LGOIMA request to DCC from Colin Stokes at the post (top of thread) has not been acknowledged by the CE or council staff.

    Typically, a letter, call or email (LGOIMA) results in a letter of acknowledgement from Governance Support Staff to the requestee on the same day or the next working day.

    Users of DCC’s Online Official Form get an automated reply as well as a letter.

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