David Parker facing fresh allegations

With sublime timing, Investigate magazine has released new allegations regarding David Parker.
Investigate alleges that he hid an asset from creditors of his company and that he sold that asset of the company to a prominentDunedin businessman to secure an under-the-table payment by way of deception.
They have published affadavits to support their allegations.
UPDATE: SageNZ has a succinct summary for us.

Three major issues

  1. Hiding an asset from the liquidator.
  2. Preferential payments to some creditors
  3. A loan to a related/subsidiary company that was not disclosed to the liquidator and was not secured but appears to have been repaid in preference to external creditors.

The third of these is potentially the most serious.

But in an application to the National Bank by St James Ltd for more funding in late 1996, the documents disclose that Empire Delux had on-lent $132,336 to St James Ltd – a company owned 100% by David Parker, with no security.


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