Post by Dave Homewood on Jun 13, 2009 15:30:57 GMT 12
Here's an article from a few days ago, the saga continues:
Airshow row set for court
By MARTIN TIFFANY - Waikato Times Last updated 13:00 09/06/2009SharePrint Text Size Relevant offers
The organisers of the failed Wings and Wheels Over Waikato airshow are at it again - this time wrongly telling ticketholders' their money could soon be refunded.
The Commerce Commission has warned that an email sent out by airshow organisers claiming that ticketholders' money, being held in a trust account, is soon to be released is incorrect.
A spokesperson for the commission said a hearing into the status of the ticketholders' funds was due to start in the High Court at Auckland on July 20. The court has to decide whether the money secured by the commission under an injunction in March 2008 and now in a solicitors' trust account was held in trust by the airshow company and could be treated as general funds available to creditors as part of the liquidation process.
The commission wants the liquidation to be separated from the ticket refund process, with funds set aside for those who bought tickets to the airshow that never happened.
In March last year, the commission obtained a court order freezing the assets of Hawker Holdings, Airshow.co.nz Media Limited, airshow.co.nz Limited and airshow organiser Ken Ross, so that ticket money would be available for refunds.
In an agreement reached between the airshow organisers and the commission last June, $500,000 of ticketholders' funds was put in a trust account with the organisers promising to carry out refunds.
The commission has already received more than 2500 applications for refunds.
www.stuff.co.nz/waikato-times/news/2484543/Airshow-row-set-for-court
Airshow row set for court
By MARTIN TIFFANY - Waikato Times Last updated 13:00 09/06/2009SharePrint Text Size Relevant offers
The organisers of the failed Wings and Wheels Over Waikato airshow are at it again - this time wrongly telling ticketholders' their money could soon be refunded.
The Commerce Commission has warned that an email sent out by airshow organisers claiming that ticketholders' money, being held in a trust account, is soon to be released is incorrect.
A spokesperson for the commission said a hearing into the status of the ticketholders' funds was due to start in the High Court at Auckland on July 20. The court has to decide whether the money secured by the commission under an injunction in March 2008 and now in a solicitors' trust account was held in trust by the airshow company and could be treated as general funds available to creditors as part of the liquidation process.
The commission wants the liquidation to be separated from the ticket refund process, with funds set aside for those who bought tickets to the airshow that never happened.
In March last year, the commission obtained a court order freezing the assets of Hawker Holdings, Airshow.co.nz Media Limited, airshow.co.nz Limited and airshow organiser Ken Ross, so that ticket money would be available for refunds.
In an agreement reached between the airshow organisers and the commission last June, $500,000 of ticketholders' funds was put in a trust account with the organisers promising to carry out refunds.
The commission has already received more than 2500 applications for refunds.
www.stuff.co.nz/waikato-times/news/2484543/Airshow-row-set-for-court
