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Post by joey05 on Jul 29, 2021 21:31:14 GMT 12
Sounds like he may get a plane! Guessing the Corsair….hope so anyway
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Post by Dave Homewood on Jul 30, 2021 21:10:30 GMT 12
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Post by delticman on Jul 30, 2021 21:29:21 GMT 12
Um any ideas for two fuselages being sent to USA in exchange for a steam roller? A Sopwith Camel wing, wonder where that went? |
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Post by l29 on Jul 30, 2021 22:09:28 GMT 12
Who sells a airworthy P40 for half a million? And who buys a airworthy P40 for half a million believing it's a honest deal?
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Post by Deleted on Jul 31, 2021 12:35:20 GMT 12
Reserved decisions can take a while, so I guess it's back to the waiting game. Will this be the last case in relation to DeMarco? is anyone aware of any others in the pipeline?
And to think I wanted so very badly to go on that tour.
That's a good line!
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Post by Mustang51 on Jul 31, 2021 15:22:19 GMT 12
...and shows that lawyers are good at being lawyers....and from bitter, personal experience.....never, repeat never let them cook a bbq !!!
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Post by ErrolC on Aug 10, 2021 19:34:09 GMT 12
Today's update mainly about the P-40 i.stuff.co.nz/entertainment/film/126022431/convicted-fraudster-eugene-demarco-out-of-the-loop-as-bankruptcy-bitesWulff’s grip on the Kittyhawk seems secure after a hearing in the High Court at Wellington on Tuesday, although Justice Christine Grice is yet to make her formal ruling. ... As it emerged that Jackson and Wulff had both been victims of DeMarco, Jackson decided as a matter of fairness not to re-register the security over the plane, removing a possible impediment to Wulff’s claim The lawyer for the Jackson side of the case, Bruce Scott told Justice Grice on Tuesday that Jackson’s decision had also been practical because he had security over the Corsair which should be more than enough to cover up to $1.6m said to be owed as part of DeMarco’s debt to Jackson and related entities. It seemed the Kittyhawk was subject to a heritage order that prevented it being taken out of New Zealand, the judge was told. ... The Official Assignee’s lawyer, Gareth Neil said it was accepted the Kittyhawk was Wulff’s. However, under Wulff’s agreement with DeMarco if the plane was sold the excess over Wulff’s original US$500,000 investment would be split between him and DeMarco |
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Post by skyhawkdon on Aug 10, 2021 20:58:30 GMT 12
So presumably (and hopefully) the Corsair will become Peter's property out of all this... and we will see both it and the Kittyhawk back in the air soon.
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Post by planecrazy on Aug 10, 2021 21:24:45 GMT 12
Did I read this correctly the Kittyhawk can't leave the country as she is under a heritage order?
Didn't she spend time in the UK with the Hanna's back in the Breitling fighters era?
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Post by ErrolC on Aug 10, 2021 22:24:08 GMT 12
I think the relevant legislation was added in 2006 (and it allows for temporary export in any case). Section 8 of Schedule 4 of the Protected Objects Act. Happy to be corrected.
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Post by Dave Homewood on Aug 10, 2021 22:29:00 GMT 12
When it was in the UK it still had NZ partners in its ownership and it was always planned to return, as I understand it.
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Post by Mustang51 on Aug 11, 2021 3:45:03 GMT 12
I believed that both machines were the subject to Heritage restrictions
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Post by ErrolC on Aug 11, 2021 8:22:30 GMT 12
So presumably (and hopefully) the Corsair will become Peter's property out of all this... and we will see both it and the Kittyhawk back in the air soon. 'Property' is such a vague concept  . The amount owed isn't well defined (yet), and the valuation of a rare expensive object that is subject to export restrictions is difficult. Might end up with something like the P-40, where if it is sold for more than $X then the surplus goes to other creditors. |
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Post by Deleted on Aug 11, 2021 14:00:14 GMT 12
Thanks for the link, Errol, I'd seen the matter was due to be called yesterday but had forgotten to look it up. Here's hoping the matters are resolved in good time...and that there aren't any appeals.
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Post by Mustang51 on Aug 11, 2021 14:32:22 GMT 12
I would be very surprised if there were none..........
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Post by ErrolC on Aug 11, 2021 18:03:30 GMT 12
I would be very surprised if there were none.......... Remember that Mr DeMarco no longer gets to make decisions regarding legal actions involving himself. Any appeals on his behalf will seriously consider the chance of success vs costs. |
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Post by Mustang51 on Aug 11, 2021 19:09:29 GMT 12
yes.....but from my time in the courts (on the right side of the dock), I have seen some "exceeding strange things happen
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Post by ErrolC on Sept 21, 2021 16:35:20 GMT 12
Another procedural loss www.stuff.co.nz/business/126446221/ferrari-plane-uncovered-in-bankruptcy-of-man-jailed-for-sir-peter-jackson-fraudA specialist pilot convicted of defrauding filmmaker Sir Peter Jackson has failed to have his bankruptcy suspended pending an appeal. ... In a decision issued on Tuesday the court refused, for reasons that included that some assets and property needed to be investigated and secured, if necessary. They included real estate in New York and Florida, a Ferrari car in New York, and a plane in New Zealand that might be in the process of being transferred to a company in the United Kingdom, the court was told. DeMarco’s appeal against the bankruptcy order can continue. However, the court noted an earlier appeal against the damages award that laid the foundation for the bankruptcy, was treated as having been abandoned in June because he did not comply with the procedural steps to have a hearing. Jackson, Walsh, and others have civil proceedings pending against DeMarco. |
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Post by Deleted on Sept 21, 2021 17:54:44 GMT 12
Thanks for sharing Errol, I guess it goes without saying that I’m curious (while resisting the urge to speculate) about the aircraft.
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Post by ErrolC on Sept 21, 2021 19:25:51 GMT 12
He's got an N-reg Stampe hasn't he?
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. The amount owed isn't well defined (yet), and the valuation of a rare expensive object that is subject to export restrictions is difficult. Might end up with something like the P-40, where if it is sold for more than $X then the surplus goes to other creditors.