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Judge orders liquidation of company tied to Ngatata Love
Judge orders liquidation of company tied to Ngatata Love
By Rebecca Howard
June 20 (BusinessDesk) – Associate Judge Warwick Smith today ordered the liquidation of Pipitea Street Development Limited (PSDL), a company linked to the fraud case involving Ngatata Love, in Wellington's High Court at the request of Inland Revenue.
Treaty of Waitangi claims negotiator Ngatata Love was sentenced to two years and six months in prison last October after being convicted of taking a secret payment of $1.5 million while chairman of the Wellington Tenths Trust. Love appealed both the sentence and conviction, which was heard last month in the Court of Appeal.
The $1.5 million was paid through Pipitea Street Development Limited (PSDL), a company owned by Love's companion Lorraine Skiffington, soon after the lease was signed, without the trust’s knowledge. That money is said to have been used to repay a property loan on a Plimmerton house Love and Skiffington co-owned, with a second payment due later.
No one representing Pipitea Street Development attended the brief hearing. Currently, the only registered director for the company is Shaan Stevens, who was also embroiled in the Ngatata Love case and gave evidence in the trial. Skiffington ceased to be a director in 2010.
Judge Smith ordered the liquidation and appointed PwC's John Fisk and Marcus McMillan liquidators.
(BusinessDesk)
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