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Hubbard supporters to complain to ombudsman

Four supporters of South Canterbury businessman Allan Hubbard are planning to file a complaint with the Office of the Ombudsmen today.Spokesman Paul Carruthers said the group hoped to submit the complaint by 5pm today and it would be posted on the Faceboo

NZPA
Mon, 26 Jul 2010

Four supporters of South Canterbury businessman Allan Hubbard are planning to file a complaint with the Office of the Ombudsmen today.

Spokesman Paul Carruthers said the group hoped to submit the complaint by 5pm today and it would be posted on the Facebook page for supporters of Mr Hubbard.

He said the complaint was by four individuals who had no relationship with Mr Hubbard.

"None of us have ever met him. We are just people who feel very strongly about the situation," Mr Carruthers said.

The complaint deals with the issue of an alleged conflict of interest for Securities Commission member Simon Botherway.

The Government last month appointed statutory managers to Aorangi Securities Ltd and the business interests of Mr Hubbard and his wife Jean. South Canterbury Finance, a company associated with him, is not in statutory management. The action came after a complaint by an Aorangi investor. The Serious Fraud Office is also investigating.

But the move was greeted with disbelief in Timaru, where Mr Hubbard, 82, is regarded as a pillar of the local community.

Mr Hubbard has called for a commission of inquiry and has also hired law firm Russell McVeagh.

His supporters include prominent Taupo rescue helicopter pilot John Funnell and former Gore mayor Ian Tulloch.

Statutory managers Richard Simpson and Trevor Thornton of Grant Thornton have said investors' assets and investments could remain frozen for some months.

A lack of paperwork had been a problem, and after three weeks the managers said they did not fully understand the financial position of the business.

The Securities Commission has said it is satisfied member Mr Botherway did not have a conflict of interest in relation to Aorangi Securities, Allan or Jean Hubbard, or the charitable trusts subject to the commission's recommendation for statutory management.

Mr Botherway had declared to the commission that he may have a potential interest in matters relating directly to South Canterbury Finance because of previous business dealings between his brother and that company.

NZPA
Mon, 26 Jul 2010
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Hubbard supporters to complain to ombudsman
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