Mon. May 23rd, 2022


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Business Insider: Lee Salmon Long’s disappearing client, Seafood industry’s nemesis

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Who's the Peters principal?

Businessman Gerald Peters appears to have lost more than his collection of luxury cars. While the vehicles – including a Ferrari and a Lamborghini – were seized by creditors, it is unclear what prompted the recent loss of his legal representation.

Earlier this year a Herald investigation into a series of property deals connected to Peters and his Peters Property Holdings attracted vigorous opposition on his behalf from Daniel Nilsson, partner of Lee Salmon Long.

After the subsequently published story, the Serious Fraud Office picked up the case, formally announcing it was investigating “Gerard Peters and others” and serving document production notices on a number of properties and individuals connected with the now-offshore tyro.

But this week, following up the case, Nilsson said he no longer had instructions to act for Peters and said: “All queries should be directed straight to them.” The lawyer declined to explain the reason for the change in circumstances.

Peters, who flew out of New Zealand in 2019 and is understood to have recently been in Malaysia, later elected not to respond to Herald emails.

Seafood's nemesis

NZIER economist Peter Wilson – dubbed (by us) the brains behind the Government’s big immigration reset – has been appointed to lead the ministerial inquiry into the use of migrant labour in the seafood sector.

Wilson, with NZIER colleague Julie Fry, has already produced two influential reports on immigration, primarily focused on the horticulture industry.

These have underpinned a Government plan to limit low-skilled migrant numbers with a view to driving up local productivity and wages – a plan that hasn’t gone down well with business groups.

The latest inquiry has been publicly welcomed by industry group Seafood NZ although behind the scenes the industry is likely to be nervous about the involvement of Wilson and Fry.

The appointment certainly confirms our view the pair have supporters on the 9th floor of the Beehive.

Dunphy returns

Ex-Mainfreight boss Chris Dunphy has joined the TIL Logistics board and become an investor.

TIL advised the NZX that its founder shareholders have sold down in aggregate about 18.25 million shares at $1.00 per share in a private placement to a range of investors, including Dunphy.

Dunphy joined Mainfreight in 1993 and helped take it public in 1996.

After 10 years of senior management roles in Mainfreight, spearheading their global growth-by-acquisition strategy, Chris resigned as executive director in 2003 to pursue private investments in a number of freight, shipping and logistics businesses in Australia.

Charity boost

Two New Zealand charities received a welcome boost this week as Forsyth Barr donated $400,000 honouring the memory of its late chairman, Sir Eion Edgar.

Diabetes New Zealand and the New Zealand Sports Hall of Fame both received $200,000 as a result of the Forsyth Barr Charity Brokerage Day.

The amount Forsyth Barr donated includes brokerage received from institutional client transactions undertaken on July 1, personal contributions from Forsyth Barr staff and a donation by Forsyth Barr on behalf of its broader business.

Both the organisations supported this year were close to the heart of Sir Eion Edgar, Forsyth Barr’s former chairman, who died two weeks ago after a battle with cancer.

Forsyth Barr managing director Neil Paviour-Smith said Edgar’s generosity in supporting numerous causes was legendary.

“His financial support and his willingness to be actively involved set a benchmark for philanthropy in New Zealand. We are pleased to honour Eion by supporting two organisations that were very important to him.”

Diabetes New Zealand chief executive Heather Verry said Edgar was the patron of Diabetes New Zealand, and an active participant in the charity’s work.

“He had contributed several million dollars to Diabetes research and education over the last 20 years. We’re grateful to Forsyth Barr for building on his support.”

Sports Hall of Fame chairman Stuart McLachlan said Edgar was both a fanatical sports fan and a proud Dunedinite.

“Just before he passed away he donated $500,000 to fund technology development, led by Sir Ian Taylor [the computer graphics innovator and head of Animation Research Limited] with the ambition of creating a world-class, interactive facility.

“This further donation from Forsyth Barr takes us another step closer to achieving our goal of developing the sports museum New Zealand deserves.”

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