Day of reckoning for Joneses
Controversial Christchurch financiers George and Hayden Jones have had a bad day in the High Court.
Three of their companies - Prudential Management Ltd, Matson's BWS Ltd and Matson Brewery NZ Ltd - were placed in liquidation by Associate Judge Rob Osborne yesterday on an application by Inland Revenue (IRD). The father and son are directors and shareholders of the companies.
Counsel for IRD Jess Bullock told the court that Matson's tax debts were not paid when the business was sold, as had been promised. The court had previously agreed to an adjournment of the petition because of the pending sale and expected payment.
Counsel for another creditor, Christchurch Business Sales Ltd, said his client was owed money for a commission on the sale of the business.
Judge Osborne said the companies had been "less attentive" to their obligations than they should have been.