'Structural gymnastics' behind Nielsen claim against Bublitz, Cook

Auckland financier Paul Bublitz and developer Chris Cook are trying to strike out a $3.2 million claim against them relating to the ill-fated Albany Heights Villas project.

Lawyers for the pair are arguing in the Auckland High Court that the plaintiff – Rosebud Corporate Trustee – is not entitled to a slice of Asian funds raised for the project near Albany, north of Auckland.

They say Rosebud may be a “sham trust” set up by bankrupt developer Rod Nielsen to avoid the attention of the Official Assignee.

 

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