Northern News : October 5th 2011
6 NORTHERN NEWS, OCTOBER 5, 2011 NEWS COMPLETED FAMILY? look for 'Riverside Women's Healthcare'in www.healthpoint.co.nz Women seeking permanent sterilization without laparoscopy? ESSURE is a permanent birth control method that is short, gentle, requiring no cutting or general anaesthesia, with rapid recovery time, no hormones, and could be done without a hospital visit. It involves placing soft flexible microinserts into the tubes. If you have heavy periods also then either balloon ablation can be done at the same time, or a good alternative for contraception and improving periods is the Mirena intrauterine device that is hormonal and easier to insert. If you are intersted in any of these methods visit Riverside Women's Healthcare @ Town Basin Specialist Centre, 131 Lower Dent St Ring 09 438 2188 for an appointment HAVE FUN WITH YOUR COMPUTER ! Write informative letters that are easier to read. Keep up with friends & family with E-mail & Skype Write stories, with pictures, for your grandchildren Make your own personal Christmas cards Sort out your photos and make them easy to find Make a booklet for your favourite recipes All these skills & many more can be yours with the help of the tutors at SeniorNet -- if you are old enough (50+). Our next term starts on OCTOBER 25th and we will hold an OPEN DAY at the Learning Centre, Kingston House, Hone Heke Rd., Kerikeri on Friday OCTOBER 14th 10.00am -- 4.00pm. Call in during the day, meet some of the tutors and perhaps arrange a course for yourself. For more call Betty Bloch 407 9152 SeniorNet Kerikeri tht i t Crisis situation: A desperate move to repay a $26 million debt may see ancestral land at Matauri Bay sold as freehold sections. By KERI MOLLOY Where once we had a body that could be revived, we are now given a corpse. Not only have we lost our land but we have no money to repay the debt. Dover Samuels THE STORY SO FAR Matauri X Incorporation held about 545ha of prime coastal land at Matauri Bay on behalf of its multiple Maori owners. In 2001 Matauri X ran into debt amounting to $2.5 million after investing in a failed Eternal Waters bottled water business venture. In 2003 the Maori Land Court appointed Kevin Gillespie as interim administrator. Mr Gillespie recommended the incorporation refinance its then $6.5m debt and borrow another $10m from Strategic Finance Ltd -- placed in receivership and in liquidation in 2010 -- to create a leasehold subdivision, carried out by joint venture partners Matauri Bay Properties. Sales slumped with the property market downturn. Matauri Bay ancestral land at risk Receivers want to freehold a subdivision on ancestral land at Matauri Bay. A hearing was held at the Maori Land Court in Whangarei on Friday to dis- cuss an agreement between the Matauri X Incorporation and receivers PriceWater- houseCoopers. The agreement provides for debt reduction, payment deferral and the termination of the court s supervision. Matauri X shareholders, including former Maori affairs minister Dover Samuels of Ngati Kura, are opposing the freehold pro- posal. At issue is alienation of ancestral Maori land. In 2001 Matauri X, with more than 400 shareholders, ran into debt amounting to $2.5 million after investing in Eternal Waters, a bottled water business that failed. Since then the debt has spi- ralled to $26m, including $10m subdivision develop- ment costs borrowed from Strategic Finance. In 2006 the court approved an 81-lot leasehold subdiv- ision on part of 545ha of Matauri X coastal land to repay the loan but the sections failed to sell. Stra- tegic Finance has since col- lapsed. Its receivers, Price Water- houseCoopers, have offered to cap the debt and reschedule repayments. Accountant Kevin Gillespie was appointed by the Maori Land Court eight years ago to administer the affairs of the Matauri X Incorporation. He says freeholding the subdivision to make the sections more attractive to buyers is likely to be the best option for shareholders. He says the receivers could exercise their rights as mor- tgagees under Te Ture Whe- nua (the Maori Land Act) to foreclose and sell the land. Mr Gillespie says the negotiated repayment figure of $15m is less than the orig- inal Bridgecorp and Instant Funding debt of $6.2m plus the subsequent $10m devel- opment costs. Mr Samuels bemoans the Maori Land Court s rejection in 2001 of a rescue package, involving Kauri Cliffs owner Julian Robertson. Mr Robertson had agreed to lease 180ha adjacent to Matauri for 60 years to improve the land next to his property. Mr Samuels, the biggest shareholder, says Mr Robertson s offer of $3.55m would have paid the original debt and created a surplus. The general lease proposal would have lifted debt and mortgage from our land but it was turned down by the court. Now we have a crisis situ- ation. Where once we had a body that could be revived, we are now given a corpse. Not only have we lost our land but we have no money to repay the debt. He says he would like to see the court initiate an inde- pendent inquiry. But Mr Gillespie says the Robertson lease proposal would never have got off the ground because it lacked shareholder support. It would not have covered the debt outstanding at that time, Mr Gillespie says. There is a requirement in the Te Ture Whenua Act for long term leases to be approved by 50 percent of the number of shares on issue which amounts to nearly 3000 shares. There was sup- port of just over 1100 shares. It wouldn t have happened, Mr Gillespie says. Hip hop workshop Workshop classes: Hip hop for kids at risk. Following the success of her concert and Teenage Rage, hip hop dance teacher Alannah Curtis is running a workshop for kids at risk. Her dance studio Demonstr8 da Flow has been granted funding from Creative Communi- ties to give 12 youths between the ages of 11 and 16 the opportunity to take part in an eight- week workshop. Classes will run Tuesday and Thursdays 4.30pm to 5.30pm at the Okaihau Community Hall starting on October 24. To apply, pick up an application form from Northland College, Okaihau College, Okaihau Dairy noticeboard or The Warehouse Kaikohe noticeboard. Fill in the form and return it to Alannah Curtis, care of PDC Okaihau.
September 28th 2011
October 12th 2011