Top Scoops

Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search

 

Businessman Eric Watson sentenced to a four-month jail term

New Zealand businessman Eric Watson has been sentenced to a four-month jail term in the UK for contempt of court, TVNZ reports.

It reports a High Court judge in London found Watson in contempt of court for withholding information about his assets from philanthropist Sir Owen Glenn.

In 2018, Watson was ordered to pay Sir Owen $NZ50m over a disputed joint venture.

The dispute was a long and complicated one, spanning years before it was settled in the UK courts.

The case was brought by Sir Owen's Kea Investments to try to extricate itself from a joint venture, a European property venture called Spartan Capital, into which it had sunk £129 million ($NZ250 million). Kea maintained that it had been deceived over parts of the venture and the case has wound through various courts around the world.

Last year, Sir Owen told RNZ he was still waiting for Watson to pay him.

"It is within the courts mandate at the moment to act on compliance orders ... and [it] needs to follow up with the defendant [Watson].

"He says he has no money."

Watson's business ventures in New Zealand had also come under the spotlight - last year his collapsed company Cullen Group lost a High Court ruling brought forward by Inland Revenue.

The High Court ruled that Cullen Group avoided paying $51.5m in taxes and was ordered to pay it back plus another $60.5 million in interest charged on the outstanding amount.

© Scoop Media

 
 
 
Top Scoops Headlines

 


Dunne Speaks: Robertson's Budget Gamble On Treasury
The popular test of the success or failure of Grant Robertson’s fifth Budget will be its impact on the soaring cost of living. In today’s climate little else matters. Because governments come and governments go – about every six to seven years on average since 1945 – getting too focused on their long-term fiscal aspirations is often pointless... More>>

Keith Rankin: Liberal Democracy In The New Neonationalist Era: The Three 'O's
The proposed ‘New Zealand Income Insurance Scheme’ (‘the scheme’) has attracted strong debate among the more left-wing and liberal groupings, within New Zealand-Aotearoa. This debate should be seen as a positive rather than negative tension because of the opportunity to consider and learn from the implications and sharpen advocacy... More>>

Dunne Speaks: Words Matter, Prime Minister
Words matter, especially when uttered by politicians. History is littered with examples of careless or injudicious words uttered by politicians coming back to haunt them, often at the most awkward of times. During the 1987 election campaign, when electoral reform was a hot issue, Prime Minister David Lange promised to have a referendum on the electoral system... More>>


Digitl: Infrastructure Commission wants digital strategy
Earlier this month Te Waihanga, New Zealand’s infrastructure commission, tabled its first Infrastructure Strategy: Rautaki Hanganga o Aotearoa. Te Waihanga describes its document as a road map for a thriving New Zealand... More>>


Binoy Kampmark: Leaking For Roe V Wade
The US Supreme Court Chief Justice was furious. For the first time in history, the raw judicial process of one of the most powerful, and opaque arms of government, had been exposed via media – at least in preliminary form. It resembled, in no negligible way, the publication by WikiLeaks of various drafts of the Trans-Pacific Partnership... More>>




The Conversation: Cheaper food comes with other costs – why cutting GST isn't the answer

As New Zealand considers the removal of the goods and services tax (GST) from food to reduce costs for low income households, advocates need to consider the impact cheap food has on the environment and whether there are better options to help struggling families... More>>