A contender for the Dodgiest LBP award replies

Christchurch ratbag Victor Cattermole

Christchurch ratbag Victor Cattermole

The other day I featured dodgy ratbag Victor Cattermole.

He contacted me via Facebook and has provided his explanation of his dodgy ratbag past. He clearly hasn’t heard of rule number one…but oh well here goes.

Hi Cameron I noticed your blog which I feel is a bit harsh, in that it narrows down several events which have never been fully explained to people by the media.

I really appreciate you giving me a right to reply.

First thing to understand is that I have been pretty much self employed since I was 18. Being in business is not always easy and I made my share of mistakes and was subject to bad economic times when doing business sometimes it was really tough.

I feel it best to speak to the issues you raised so people hear my side of the story, so I will go through them one by one.  

Endeavor Plan and allegations of pyramid selling. I spent around $240,000 just on the legal structure and legal opinions of Endeavor Plan. Chapman Tripp, Buddle Findley [sic] and Phillips Fox all gave legal opinions, with those solicitors we met the Commerce Commission and Securities Commission on no less than 5 occasions to explain the structure of the investment and the legalities. Both commissions had copies of the legal opinions and advised us before we launched that they had no questions or issues, they said that if they received complaints they would investigate. (fair enough) I also paid for an IRD binding tax ruling which confirmed that an average kiwi investing $100 per month in to the Endeavor Plan, could get a tax benefit of around $3600 a year. When BNZ saw this they wanted to buy the company out, but the shareholders refused to sell (idiots). Ultimately we launched around the time Winston Peters was pushing the compulsory retirement savings wheelbarrow. He was 2IC in Treasury if I recall. Within days of launch we got hammered by the securities commission. I got word from a behind the scenes source that Winston was involved. Rodney Hyde [sic] and Richard Prebble requested a Ministerial enquiry, the minister wrote advising he would investigate himself. After his investigation of the alleged conspiracy and corruption he wrote a one page response saying he thought the commission acted appropriately. The chairman of the Commerce Commission (Alan Bollard) got promoted by Winston Peters ultimately to become Reserve Bank Governor. I requested a copy of the ministers investigation file under the OIA and was advised “no file exists” The securities commission chose to slander me as that lasts a lifetime on the internet, I had begged them to take me to court if I was wrong or breaking any law and they never have. So I moved offshore to a less corrupt society.

Portsmouth football club, unfortunately the club was put into administration and was relegated before we could complete our due diligence, being relegated impacted on the value significantly, some deals just don’t work out.

The unlawfully using a document is a really interesting case, I did exactly what most people would do. An associate transferred the ownership of my car into his name without my knowledge. He then reported the car stolen, I was contacted by police and investigated what had happened. I did what most people would do and went to NZ Post who advised me on putting the car back in to my name which I did. The associate then claimed I owed him money, this went to court and it was found that I didn’t owe him money, the company I worked for didn’t even owe him money. The police laid a charge claiming I had used the change of ownership papers to obtain an advantage, which I of course defended I mean I didn’t owe this guy money and it was my car. It went to trial and according to my lawyer it appeared clear there was no case to answer but the judge refused to dismiss the claim stating he wanted to see what evidence we would provide. On advice of my solicitor we didn’t call any evidence because as my lawyer advised there clearly was no case. A jury thought otherwise and decided I was guilty of taking back the ownership of my own car. I paid the minimum fine of $1250. What would you have done if you were me?

The Erskine College transaction some media made it sound like I was some sort of deviant. The college had been empty for 10 years or more, owned by the Hibernian Society. We offered $1m for the property with immediate possession so we could start to develop plans to renovate etc. The contract was one of the first contracts drawn up on edition 6 of the real estates contracts and it had a provision in the contract that the vendor (seller) would guarantee the building was up to code and had a WOF. Clearly the Hibernians received poor legal advice before signing the contract as the cost to them to get a WOF for the building was going to be in excess of $1.5m. When we raised the issue of WOF and their obligations under the contract they filed in the court wanting to cancel the contract. The court ruling if I recall was that the issues of WOF would need to be battled out in court hearings by the parties but in the meantime possession was to be given back to the Hibernians so I was asked to vacate. Not really so exciting when you understand the whole story.

If you want we can catch up for a beer some time and we can share 100’s of stories. As an entrepreneur I am always making things happen, sometimes they don’t work out how I plan, lifes [sic] like that. Doesn’t mean I am a bad person, in fact my desire for success more often than not is a desire for success of others before myself. It’s a pity the media don’t like writing about the successes.

Oh dear…what on earth would a psychologist make of all that.

Why is it that entrepreneurs (self claimed) and politicians all share the same traits of psychopathy?

Don’t you love how in all of his life’s travails it is always someone else’s fault for the screw ups.


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story.  And when he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet.   Cam Slater doesn’t do quiet, and as a result he is a polarising, controversial but highly effective journalist that takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him.  But you can’t ignore him.

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