Boult hits back with complaint

Jim Boult.
Jim Boult.
Queenstown mayoral candidate Jim Boult says he has complained to police of an "alleged campaign" against him.

In a statement yesterday,  Mr Boult said over recent weeks he had become aware of "actions by others which may have had the intent of trying to influence the outcome of the election against me".

"I have taken advice from senior legal counsel and, as a result, have made a complaint to the Queenstown police and provided them with the information that has been passed on to me."

Mr Boult declined to provide more detail about his complaint or to discuss the matter further.

A police media spokesman said a complaint from an individual was generally treated as a private matter and they would not comment yesterday.

Mr Boult is one of those being investigated by liquidators following the collapse of Christchurch building company Stonewood Homes.

The Otago Daily Times understands the money to pay for the investigation and any subsequent court action is being put up by a Queenstown property developer, who is not one of Stonewood’s 400 unsecured creditors.

Fairfax suggested earlier this month the amount to be funded was up to $1million.

Three sources have provided the ODT with the developer’s name.

However, attempts to get first-hand confirmation from him have been unsuccessful, the developer appearing to hang up when contacted by phone, and not responding to messages.

Stonewood Homes went into receivership on February 22, 2016, owing unsecured creditors more than $20million, and it is now being liquidated.

Mr Boult stood down as Stonewood’s executive chairman about three weeks before it went into receivership, citing a conflict of interest as a potential buyer of the company.

Ernst and Young liquidator Rhys Cain told the ODT in August his investigation would look at the activities of all directors and senior managers with "crucial decision-making ability" in the two-year period before the collapse.

Mr Cain would not say this week where the funding for the investigation came from.

He said it was not unusual for an outside party to fund an investigation and court action.

"There are a number of companies for whom this is their core business. They provide litigation funding where funding isn’t available from any other source.

"That’s what’s happened here.

"We asked at the creditors’ meeting whether creditors wanted to provide funding, and none was forthcoming.

"But everyone expects an investigation to occur because you have got a large number of creditors owed over $20million.

"So we’ve found an alternative source, and nothing should be read into that, because this happens all the time."

In his statement, Mr Boult said the "alleged campaign" against him "and the actions and behaviours of those involved" were extremely disappointing, "not just for me but for our ratepayers and residents who I believe deserve better".

"This is for police to work through fully as is appropriate.

"I am determined not to be distracted from the issues that matter most in this election.

"I truly believe that residents and ratepayers will vote for me based on my experience, community contribution and most of all leadership."

Mr Boult said he would not be drawn into commenting publicly on the identity or motives "of those persons that are allegedly involved".

"Those questions are actually for those people to answer."

Mr Cain said his investigation was a "standard process".

"Every liquidator looks at what caused the failure of the company ... and they take appropriate action according to what they find, and that may be nothing or it may be the recovery of something."

His investigation of Stonewood would not be completed before the October 8 local body elections, he said.

mark.price@odt.co.nz

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