Accountablity in Waitakere City

We have asked some  questions  about some of  the  cities companies

this is the exchange of emailsI began by asking Linda Cooper the following

From: Gary Osborne
Sent: Monday, 9 August 2010 1:32 p.m.
To: Councillor Cooper
Subject: WCHL

Dear Ms Cooper,

I am writing to you as a director of Waitakere City Holdings Ltd, as I notice you took up that position on 1 July 2009.

1. Do you receive any payment from Waitakere City Holdings Ltd?

2. If so, how much?

3. Could you confirm the entire capital (by share issue) of Waitakere City Holdings Ltd is $1.125m.

4. Could you confirm Waitakere City Holdings Ltd is the sole shareholder in Waitakere Properties Ltd with issued share capital of $2.3m.

5. I note in the Annual Accounts of Waitakere Properties Ltd it was stated Prime West Management Ltd was insolvent as at 30/6/09. I also note that Waitakere Properties Ltd advanced a loan of $49,902 to Prime West Management Ltd and Note 8 of the Waitakere City Holdings Ltd accounts states “Repayment will be made during the 2010 financial year.”

How does an insolvent company repay a loan?

6. What was the dividend by Waitakere Properties Ltd to ratepayers in 2007/08?

7. What was the dividend by Waitakere Properties Ltd to ratepayers in 2008/09?

8. What was the dividend by Waitakere Properties Ltd to ratepayers in 2009/10?

9. What is the proposed dividend by WPL gor 2010/2011?

10. What is the proposed dividend by WPL for 2011/2012?

Yours sincerely,

Gary Osborne.

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2 Responses to Accountablity in Waitakere City

  1. Paul says:

    This is a disgrace. As a ratepayer, we expect value for money from our rates and accountability from our elected councillors.

    You have asked for questions to be answered by councillor Cooper and received a ‘smart arse’ response from her. This is frequently the type of response you would expect from someone who has something to hide!

    ‘Sunlight is the best disinfectant’ so come on councillor Cooper ‘fess up’ and explain why you approved what appear to be disastrous investments by your council. Also, have you personally been receiving fees from these investments and if so, did this influence your decision to approve these investments?

    Elections are coming up and we ratepayers need to know who we can trust and who is not going to waste our rates on further dodgy investments!

  2. jim carney says:

    The probe into Waitakere Properties and Waitakere Holdings calls for an in-depth investigation of Auckland Film Studios which has connections with Tony Tay group of companies now in receivership. Particularly, how did he manage to gain a controlling interest in the company ??

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