Taxman drawn into Ridge-Parore dispute
Inland Revenue has been drawn into the break-up of former celebrity duo Sally Ridge and Adam Parore.
In the Auckland High Court today – where the former couple’s dispute over a company and a former home is being heard – Ms Ridge says the former international cricketer stopped paying her dividends from company Small Business Accounting (SBA) in September 2011, leaving her with limited income from a contract with magazine New Zealand Women’s Weekly and forcing her to apply for child support.
She also claims Mr Parore became “abusive and threatening” in emails and that he altered a loan document, removing his name from liability, over a $200,000 loan from her parents, which led to a year-long rift with her mother.
The basis of the dispute is whether Ms Ridge is a 50% shareholder of SBA and whether she’s due half the dividends that have been paid since September 2011.
Of the couple’s former home in Freeman’s Bay, the socialite says: “I do not believe I received the sums that were due.”
Her family trust provided $1.212 million to buy the Arthur Street home and substantial capital on top of that for the costly and time-consuming rebuild.
Her estimated loss from the property sale was $900,000.
She says she is not aware of any capital contributions by Mr Parore’s trust.
Ms Ridge, 42, says the break-up and loss of income has forced her to sell her family home, borrow $50,000 from her parents and buy an Auckland property with a flat to help pay the mortgage.
The couple met in 2002 and broke up in 2010. They have two children together.
She says with his legal and accounting background, Mr Parore was responsible for the couple’s finances and “I trusted and believed what Adam told me 100%.”
“He never indicated this income would ever stop or be cut off," she told Justice Murray Gilbert.
“I simply do not know the basis upon which the payments were stopped."
Ms Ridge says Mr Parore should be allowed to draw a fair salary from SBA, but she was unclear how he can justify tripling his salary when he has an active social life, plays golf, took three months off to climb Mount Everest and actively uses his helicopter licence.