Tag Archives: Curriculum vitae (CV)

Delta EpicFail #8 : Cr Calvert goes AWOL, 23 Questions for Mr McKenzie —Saddlebags !!

Received from Christchurch Driver [CD]
Thu, 21 Jul 2016 at 1:11 a.m.

Readers, we must observe a minute’s silence for Councillor Calvert, who will be greatly missed. Councillor Calvert was one of few – very few – willing to shake off the soporific torpor afflicting so many of the elected representatives, ask penetrating questions, and not follow the herd. Some other Councillors think that simpering naivety is a fetching and winning look (and not just limited to one particular female councillor), but on the very few times your correspondent has been able to withstand viewing parts of a council meeting, he had a heaving feeling and it wasn’t stale milk in the Choysa.

Ms Calvert did make some missteps in her term, and the Court of Appeal judgement in relation to the James Queenstown Development undoubtedly might have affected her confidence to run, but this correspondent says, all is forgiven Hilary, the city needs you. A suggestion : Why not just go all out and stand for Mayor on the premise that you have done your time as Councillor and got treated like a mushroom by Mayor Cull et al, so you now know that to achieve reform in the city of Dunedin, you need to be at the top, and nothing else will do. That would be a powerful message and it would resonate with many. Please consider it. Readers, please post your support to show Cr Calvert there is a mayoral Calvert constituency – offers of assistance also appreciated !!

So the DCC has refused to answer Cr Calvert’s questions in relation to Delta. Instead, Mr McKenzie, “has been asked to contact” Cr Calvert. It is not recorded by the DCC if Mr McKenzie agreed to do this, or alternately, had been instructed to, ie couldn’t refuse to. Bureaucrats !!

But Mr McKenzie wants to hold a “workshop” with councillors on this issue. We can be so very very sure that without the efforts of What if? this workshop would never have seen the light of day. Your correspondent says this workshop is the first of the plaintive cries of ignorance and fast & furious duckshoving predicted in the EpicFail #6 post. What is not needed is some vague platitudes from the departing Mr McKenzie, who now has no stake or future in the DCC, but some evidence and history of the issue in writing, that can be considered by the people footing the bill, ie us. And there had better be something comprehensive and truthful – in writing, or the Ombudsman (who is already watching the DCC for its appalling LGOIMA performance on other matters) will be involved.

To this end, your ever helpful correspondent has prepared some additional questions for Mr McKenzie’s workshop in addition to Cr Calvert’s questions, that all ratepayers will be VERY interested to know the responses to. Councillors, feel free to pick and run with as many as you like. Goodness knows, even Mr Vaughan Elder of the ODT may want to pursue some : Breaking news is that the ODT is sick of being pummelled by What if? on this issue (and others) and has assigned Mr Elder to pursue the Delta / Noble story. Welcome to the party Mr Elder, good to have you aboard, unless you get captured by the DCHL / Delta party line that is, in which case you will receive no mercy from this correspondent.

Q_LOGOweb [twitter.com] 1Questions for Mr McKenzie (No, not you Graham, Grady and Delta directors…. but it’s coming….)

1. Do you agree that as DCC Group Chief Financial Officer (GCFO), you must answer all questions truthfully and disclose all material facts known in relation to issues you are reporting or advising on ?

2. When did you become aware of the partial assignment security sharing deeds with Gold Band Finance and Avanti Finance ?

3. Have you read the above documents ?

4. If you have read the documents, have you ever in your career seen a document with the same sort of provisions, and if not, did this create any alarm to you ?

5. If the document was not one you had ever experienced before, as the GCFO of the DCC, did you seek a further opinion on the legality or enforceability of the document ?

6. If you had read the document, why did you say that there is no relationship between Gold Band and Delta when this is demonstrably not true ?

7. If you had read the document, why did you say that the actions of Gold Band are “out of our control” when this is demonstrably not true ?

8. If you hadn’t read the document, how could you accurately say what sort of relationship there was between Gold Band and Delta ?

9. Did someone else advise you of this, and if so, who was it ?

10. Was pressure from the Mayor, Delta Management or Directors, or DCHL Directors brought to bear on you to say that there was no relationship between Delta and Gold Band ?

11. Do you consider the current court action, which is being paid for by Delta, a prudent use of ratepayer owned funds ?

12. How much has been spent on legal and staff costs on the current, ongoing court cases ?

13. If the document, ie partial security sharing deed that is the subject of the current court action is found by the Court to be illegal, do you think it is appropriate for the CEO and Directors who have allowed this happen and who were in place at the time the document was prepared, approved and signed, to remain in their positions ?

14. If the document is found to be illegal, what is your plan of action you will recommend to Delta/ DCHL/ DCC ?

15. If the document is found to be illegal, will you recommend to Delta/ DCHL/ DCC that legal action be taken against the law firm that prepared the agreement ?

16. Have you been advised in any way informally or formally, of any proposed Delta or DCC or DCHL involvement in the entity that is purchasing the land at the Noble Subdivision mortgagee sale ? And when were you made aware of it ?

17. If yes, precisely what information has been disclosed to Councillors ?

18. If nothing has been disclosed to councillors, why not ?

19. What amount of funding is proposed for this “involvement” and where will it come from ?

20. Is there any limit to further funds being committed to this proposal, if as often happens, budgets and timeframes are exceeded ?

21. As GCFO, do you think it is appropriate that Delta should have spent $3.39M on a questionable at best partial assignment when it’s five-year profit average is $2.6M ?

22. If you were the Delta CEO, would you have done this ?

23. Do you consider that the Management and Directors of Delta have acted ethically and within the law, and in a manner appropriate for a ratepayer owned company during your tenure at the DCC ?

?

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

City Council not the healthy democracy we crave #Delta

We have lost more than one useful community-orientated local body politician to the bullying green sludge running this council. No one quitting the council table these last weeks has been exactly forthright about that, until now. Each has been raising points in common with Councillor Calvert, privately and publicly, in their own way.

Over the last 18 months in particular, Councillor Calvert has been on her game with work and enquiry, and yes, regrettably, only a small part of which can be shown via recorded council meetings; but that says more about Mayor Cull’s chairing and questionable efforts at maintaining political control – as Councillor Vandervis will attest.

Indeed, most of council politics presents behind scenes in non public, but also Covertly as ‘Politics’ has always done —except this time, the public beneficiaries of the fabrication and obfuscation are increasingly irate with not only the dangling Mayoral Chain but also his rather awful menagerie of toothy accomplices and mouldy sidekicks.

The lack of public faith in these numbskulls has brought on a seething concentration of ill will, exasperation and litigious-minded wrath such that Anything could happen, and may, before and after the October elections. Typically, for Dunedin, this goes somewhat understated. But it is real, not imagined. Presbyterian attendance to the cost of unbridled war is uppermost…. until the last ganglion strains and bursts.

Hilary CalvertWith the problems besetting South Dunedin caused by DCC and ORC lamebrains…. there has never been a more Simple time to gain a Strong Majority of sincere and principled elected representatives willing to work hard for the whole of Dunedin City. Cull is eroding public confidence. Walk right over the top of him and the greenies – for Our better future.

Last word: Hilary Calvert, please stand for the Mayoralty and the Council in the 2016 elections.

The big issues for ratepayers – cycleways, fraud, what council-owned companies were doing, and maintenance of mud-tanks – were “never on the agenda of council meetings until a rearguard action happens after the problems are identified by others”. –Cr Hilary Calvert

### ODT Online Wed, 20 Jul 2016
Disillusioned with council
By David Loughrey
Dunedin city councillor Hilary Calvert announced yesterday she will not stand in this year’s elections, but not before taking parting shots at some of her colleagues and Mayor Dave Cull. […] She said she was unable to make a difference in a council dominated by councillors “whose focus is on carrying out activities for the benefit of the planet and on advising central government on how they may go about their business, not ours. This preoccupation has been at the expense of the proper and transparent governance of the city.”
Read more

****

Received.
Wed, 20 Jul 2016 at 8:32 a.m.

The following was forwarded to me by a city councillor. I subsequently obtained Cr Calvert’s permission to publish.

—— Forwarded Message
From: [Dunedin City Council]
Date: Mon, 18 Jul 2016 23:39:51 +0000
To: “Council 2013-2016 (Elected Members)”
Cc: [DCC Comms]
Subject: FW: Response to LGOIMA request attached

Dear Councillors,
For your information please find attached a response to a LGOIMA request made by Cr Calvert related to Delta and Gold Band.

[Dunedin City Council]

[attachment – click to enlarge]

02497816 DCC Letter reply to Calvert LGOIMA request 1.7.16

*Names removed by whatifdunedin

Note: Ask strong clear questions when using LGOIMA to access information held by the councils.

Posted by Elizabeth Kerr

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

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

Delta #EpicFail —Epic Fraud #7 : The Long & Winding Back Road

dirt road west at night [gettyimages.com]Delta, dirt road west at night….

Received from Christchurch Driver [CD]
Sun, 17 Jul 2016 at 5:08 p.m.

Readers, tonight a post to keep things brewing, but please take that ridiculous tea cosy off your head, put it back on the teapot where it belongs – who do you think you are – Peter Tosh ? !

Firstly, Friday’s riddle and the background on the $3.39M; Mr Crombie proudly declaimed to Dunedin recently that by spending $3.39M of actual cash from Delta’s fast disappearing reserves to buy part of the Gold Band first mortgage, they will receive around $5.1M of the first mortgage debt, which means they THINK they have $1.7M of extra security for their very large core debt. This extra $1.7M is because Mr Crombie is ignoring the 22.50% interest on the $3.39M, ie there is no actual extra security, just Delta forgoing interest, which the other co-holders of the first mortgage are certainly not forgoing. Before we move on, readers should remember that Delta’s average annual profit over the last five years was just $2.6M, and so Mr Crombie and Co have just gambled the entire proceeds of more than an entire year’s profit on this venture, which is far from certain given the ongoing court cases about prior interest in the land. Readers may also want to bear in mind that Delta and the DCHL are in such terrible shape that they will not be paying a dividend to Council to defray rates rises over the next three years, a fact that Mayor Cull is desperate to hide from the public of Dunedin and thus far, the ODT are doing a very good job of assisting him in this endeavour.

In other words, the only beneficiaries of the $100M of work that Delta performed last year were the 70 Delta seat warmers who earned over $100,000 per year, and the Directors, who others, more unkind than your correspondent, have described as unrepentant troughers. Yes, readers, Delta is a corporate welfare scheme, providing a zero return to the ratepayers and is going to remain that way for the next two to three years. We know this because Ms Bidrose and Mr McKenzie explained that is why the city must retain Delta in their recent report on the DCHL companies, so it must be true.

Now as readers of Epic Fraud posts #3 – #6 will know, it is looking very (very) likely that DCHL, Delta and their lawyer Mr Smillie are going to get a comprehensive pasting in Court, the odds being they will be found to have not merely been a party to, but in fact have orchestrated a constructive fraud to ‘cheat a man of a known interest’ and openly flouted the provisions of the Property Law Act.

So what are the consequences of this ?

At the recent High Court hearing, Osborne J asked both Gold Band’s lawyer and the plaintiffs’ lawyer what it would mean if the first mortgage was unable to be partially assigned because the Property Law Act did not permit it.

Neither lawyer had an answer.

Subsequently, one set of lawyers has researched if there is any case law on the issue of partial assignments, and there apparently is not a one, which lends considerable weight to the argument that it is, as it says in the Act, not possible, ie illegal. Osborne J then said he would read up on the Property Law Act, and said that “maybe it meant that everything had to be wound back to before there were any partial assignments” or words to that effect.

Your correspondent would dearly love Mr Crombie (at a pinch, even Mr McKerracher would do) to explain what they think this will mean but, readers, you can guarantee a deathly silence, punctuated only by the sound of frenetic footsteps as there is a mad race to not be the one left standing, facing the inquisition following the court judgement.

Mr Smillie, Delta’s lawyer who cooked up the partial assignment, must be feeling a little anxious? (terrified?) at present. What a contrast to those heady days of early 2011, where it seemed he was on a tear, having schooled that old school crustacean Jim Keegan on the Property Law Act. He probably had a crack at actually walking on water that year, seemingly having pulled off the legal equivalent with the partial assignment. Alas, it appears to be a Febezzle, or “functionally equivalent bezzelment”, as defined by Charlie Munger, Warren Buffet’s cohort. This is where both parties feel wealthy, until the deception is revealed, but in fact it was Gold Band and Avanti doing the bezzeling, not the hapless Mr Smillie and Delta.

Here is what your correspondent thinks is the awful truth : If the first mortgage was “wound back” to pre April 2010, because Delta’s partial assignment was illegal, Delta may lose all of the $3.39M. It is no different than someone who has bought stolen goods and did not have the proof of ownership.

Grady, Graham, and Delta Directors, read this slowly and carefully – say the words out loud if it helps :

1. “An agreement for an illegal partnership will not be specifically enforced even though partly performed, nor can damages be recovered for a breach of it, and if the whole purpose of the partnership is illegal, the court will not recognise it, or enforce any right which the partners would otherwise have, especially when the parties have agreed to enter, as partners, into a transaction, which they knew to be illegal”

Let’s break this down for the Delta turnips :

a) Illegal partnership – check !
b) Partly performed – double check ! —Delta paid donated $3.39M to Gold Band and Avanti.
c) Damages not recoverable – check ! —Avanti and Gold Band get to keep the $3.39M.
d) Whole purpose illegal – check !
e) Knew it to be illegal – check ! (Tom Kain and Jim Keegan advised it couldn’t be done).

Readers, what are the chances of two small, opportunistic finance firms who are never likely to deal with Delta again, saying to Delta’s Directors:

“Well chaps, poor show, poor show indeed ! What about that Judge Osborne – a terrible time for him to have an attack of principles ! We shall not be sharing a drink with him at the Canterbury Club…. but don’t worry chaps, even though we don’t have to, and even though you or the courts can’t make us, and even though we have been put through the wringer first by NIL, then by the landowners, breached our trust deeds, had to pull our prospectus, and now been humiliated in court by your ineptitude, it’s all right, we will pay you back the $3.39m….

It should be enough to say it is Tom Kain’s favoured finance company we are discussing here.

We should also consider WWDD ? (What Would Delta Do – in that situation ?). Readers, I hardly need to tell you that Delta would have announced a record profit, up by $3.39M, and the CEO and Directors would have all recommended healthy increases to themselves in light of their exceptional performance.

The rustling of paper we hear is Grady, Graham and the Delta Directors editing their CVs to remove any mention of Delta (memo to DCC : complain to Institute of Directors about misleading and false advertising !) and writing the first draft of their resignations, “for personal and family reasons”, of course.

For Delta, the Noble Subdivision is no longer an intermodal multiple train wreck : it is a nuclear career conflagration that will consume all those involved with it.

█ 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.

*Image: gettyimages.com

21 Comments

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