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Manawatu update / water truck

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The water truck owned by the club has been legally removed from the Raceway by the finance company who have advanced funds to the club and have a registered PSR security over it.

The funds are being used to support challenges in Court against the Wanganui Club ($200k loan) NZGRA (grants witheld)and certain media for libel.

Also Police charges against Secretary Ashoka Pandey for truck conversion and

misuse of a DIA grant have been dropped.

Watch this space.?

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The water truck owned by the club has been legally removed from the Raceway by the finance company who have advanced funds to the club and have a registered PSR security over it.

The funds are being used to support challenges in Court against the Wanganui Club ($200k loan) NZGRA (grants witheld)and certain media for libel.

Also Police charges against Secretary Ashoka Pandey for truck conversion and

misuse of a DIA grant have been dropped.

Watch this space.?

Great news for Ashoka and good luck with his battle against great odds cheers Jim

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of that article makes no sense. I understood the judge made a final ruling on Friday the 9th of December, therefore any prior appeal has now been negated by the court.

Regardless, racing will continue at the track tomorrow. Long may it continue.

Regards Deb.

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Yes Deb the club has been placed in liquidation with the track loan of over $600k being the main issue.

A loan incurred with no hope of repayments forced upon the Club by GRNZ to appease the NZRBs demands to sell product to Australia on Mondays

Money couldn't be found to save Wellington

but Manawatu got the hospital pass(loan) which caused its demise.

Fortunately the stakeholders are not disadvantaged as racing continues at Manawatu at least until Wanganui's stand is built, so the grapevine says.

The Judge Gendall has left the door open for the club to pursue its debtors which includes GRNZ and Wanganui, despite placing it in liquidation..

A Mr Tom Rodenwald has been appointed joint liquidator.

If this is the same person whose name is all over the CD consortium documents and club loans then their may be a credibility or conflict of interest matter to be addressed when discussions begin with them and the Club.

From a positive viewpoint if he stands by the correspondence he has signed ten years ago, the intent and the minutes of the time then at least Manawatu and Wellington could gain $400k from their loans plus interest.

$200k plus other debts due to Manawatu by GRNZ would clear Manawatus immediate debts and enable it to be wound up with dignity or open its doors.?

After all GRNZ can't push the loan but reject the use of assets bills etc they have been invoiced for.

Watch this space.

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Yes Deb the club has been placed in liquidation with the track loan of over $600k being the main issue.

A loan incurred with no hope of repayments forced upon the Club by GRNZ to appease the NZRBs demands to sell product to Australia on Mondays

Money couldn't be found to save Wellington

but Manawatu got the hospital pass(loan) which caused its demise.

Fortunately the stakeholders are not disadvantaged as racing continues at Manawatu at least until Wanganui's stand is built, so the grapevine says.

The Judge Gendall has left the door open for the club to pursue its debtors which includes GRNZ and Wanganui, despite placing it in liquidation..

A Mr Tom Rodenwald has been appointed joint liquidator.

If this is the same person whose name is all over the CD consortium documents and club loans then their may be a credibility or conflict of interest matter to be addressed when discussions begin with them and the Club.

From a positive viewpoint if he stands by the correspondence he has signed ten years ago, the intent and the minutes of the time then at least Manawatu and Wellington could gain $400k from their loans plus interest.

$200k plus other debts due to Manawatu by GRNZ would clear Manawatus immediate debts and enable it to be wound up with dignity or open its doors.?

After all GRNZ can't push the loan but reject the use of assets bills etc they have been invoiced for.

Watch this space.

I read a while back that an auction was held to liquidate assets. Has the club been officially wound up? Was Mr Tom Rodenwald challenged, and did the court find a conflict of interest?

Also were the claims made above proven?

Regards Deb.

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I read a while back that an auction was held to liquidate assets. Has the club been officially wound up? Was Mr Tom Rodenwald challenged, and did the court find a conflict of interest?

Also were the claims made above proven?

Regards Deb.

More important Deb was the water truck liquidated when full?? cheers JIM

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More important Deb was the water truck liquidated when full?? cheers JIM

Could be a little more difficult when empty.

Seems this space is still to be watched. Would be nice if the person who started this thread would update seeing as 4 months has now past.

Cheers Deb.

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