The supporters of Timaru businessman Allan Hubbard have written to Chief Justice Dame Sian Elias, arguing his situation has become a human rights issue because he has undergone a trial by media.The government put Mr Hubbard and his wife Margaret under sta
The supporters of Timaru businessman Allan Hubbard have written to Chief Justice Dame Sian Elias, arguing his situation has become a human rights issue because he has undergone a trial by media.
The government put Mr Hubbard and his wife Margaret under statutory management on June 20, along with charitable trusts, Aorangi Securities, and later, Hubbard Management Funds. The Serious Fraud Office is also investigating the couple.
The statutory managers are expected to release their third report on Friday. The second report said investors in Aorangi Securities were highly unlikely to receive significant amounts of capital back before Christmas and interest payments to them remained suspended.
About 300 investors in Hubbard Management Funds were told that the company overstated its value by at least 25% on March 31, reporting non-existent investments and cash balances.
Mr Hubbard's supporters are organising a petition for a judicial review of his case. The Ombudsmen's Office is investigating the way in which Securities Commission member Simon Botherway raised a potential conflict of interest after supporters raised that issue with it.
A letter from supporters released today said the press had been overwhelmingly in favour of portraying Mr Hubbard as the government has stated he is.
"We are profoundly concerned that two members of society who are known for the enduring extent of their goodwill toward their fellow citizens are suffering the deconstruction of their reputations, with their only recourse being to remain silent, or defend themselves in the media," the letter said.
"Complaints have been sent to the United Nations about this matter, such is the desire of those who know Allan and Margaret Hubbard, and those who care about how they are being treated, to see that their right to privacy and fair process involving transparency are upheld," the letter said.
