mark hotchin
but for former hanover group director mark hotchin it seems a case of trading down .
mark hotchin, says
no director of hanover ever did anything knowingly wrong
.
however, mark hotchin yesterday told the herald his brother had died but would not elaborate .
mark hotchin - come and live in the world you helped create for many new zealanders .
mark hotchin' s tv explanations had little to do with financial reality. photo / paul estcourt
the fire department burned a waiheke home that used to belong to mark hotchin to the ground .
hanover directors bruce gordon, mark hotchin, gregory muir and tipene o' regan remained unrepentant .
a source who socialised with mark hotchin in that early period of his life said hotchin never touched cannabis
when the rest of us were right stoners .
freezing orders over mark hotchin' s assets, which have been in limbo since 2010, will be lifted .
they are manufacturing outrage over the burning down of a house on waiheke because it used to belong to mark hotchin .
the other defendants were mark hotchin, greg muir, bruce gordon, sir tipene o' regan and dennis broit .
herald columnist brian gaynor was forced to apologise to mark hotchin for defaming him. the herald buried their apology to hotchin on page b12 and never put it online .
mark hotchin met eric watson at an event at the regent hotel and they struck up a friendship. photo / kenny rodger
if mark hotchin is the ace of heart (les) s, then fay & richwhite are the aces of spades .
the basic problem with hotchin is that he promised too much and failed to deliver. mark hotchin' s media blitz cannot be allowed to pass without some comment and analysis .
hanover finance co - founder mark hotchin is selling two waiheke island properties to get on with other things he has to do .
judith collins addresses media after being cleared of any wrongdoing. photo / mark mitchell
turn up the heat: a hell pizza mobile billboard depicting mark hotchin and their greed pizza outside hotchin' s multi - million dollar house under construction in auckland' s paratai drive .
mark hotchin has pointed out that relevant disclosures were to be found in prospectus no36 on pages 55 - 61. we regret the oversight .
former hanover finance boss mark hotchin wants a $ 7000 - a - week allowance to maintain his lifestyle on australia' s gold coast .
news fha hanover finance deloitte failed finance companies property mark hotchin gregory muir tipene o' regan bruce gordon eric watson dennis broit. rob everett
justice minister judith collins' resignation was sparked by a fairfax investigation into a smear campaign by bloggers apparently backed by controversial financier mark hotchin .
a former owner of the failed hanover finance company, mark hotchin, says
no director of hanover ever did anything knowingly wrong
.
the company, which operates 150 owner - driver cars, was bought from mark hotchin at the beginning of the month for an undisclosed price .
allison said mark hotchin did not live at the property, however, which was bought as a holiday home for his former wife, lynette .
confidential settlement talks between former hanover finance boss mark hotchin and the financial markets authority (fma) are underway in the high court at auckland .
mr muir said the group, which is owned by multimillionaires mark hotchin and eric watson, would now focus on its property and finance activities .
mark hotchin and three other hanover directors have released a statement saying the fma wouldn' t have won at trial. photo: brett phibbs .
there wasn' t a history of tertiary education in the hotchin family and mark left school to work in his father' s joinery factory. hotchin senior' s interest in speculative property investment rubbed off .
troubled finance group hanover is accusing hell pizza of positioning a mobile billboard mocking mark hotchin outside his six - year - old daughter' s school .
mark hotchin faces public odium for living large after the destruction of investors' wealth that occurred in his and eric watson' s finance company, hanover. as a director, mark is being investigated by the securities commission and the serious fraud office .
one of mark hotchin' s current friends told the herald that while hotchin
certainly has an ego
, his financial success wasn' t handed to him on a plate .
these guys [ mark and john ] grew up pretty tough. they didn' t have a silver spoon in their mouth .
mark hotchin said of his father in a 2003 interview ,
dad drove things pretty hard. he instilled a strong work ethic. it plagues me sometimes .
a multi - million dollar mansion on waiheke island that was previously owned by former hanover finance director mark hotchin will be burnt to the ground and demolished by firefighters .
but graham told the herald on sunday this week he was simply trying to turn the tide of overwhelmingly negative coverage against his client mark hotchin, former hanover boss .
bruce tichbon says it' s wrong to see ponzi scheme victims as fools. lawyers and even finance bigwigs like hanover finance' s mark hotchin have been caught .
this is why the public is angry and why the new zealand herald' s front page treatment of hanover finance shareholder and director mark hotchin has proved so popular .
mark hotchin has won the right to re - argue his case to make trustees jointly liable for damages over the collapse of his finance companies, hanover and united .
the email released yesterday set out plans to discredit feeley and was sent to a
mark
.
in a 2008 post slater described hotchin as a
crook
, the same word used by sheppard that hotchin alleged was defamatory .
mark stephen hotchin was, according to a company filing, a christmas day baby. he was born in 1958, the second of three sons to lloyd and beverley .
mark hotchin’s former holiday home has gone up in a ball of flames but the deliberate demolition was little consolation to investors who were themselves burned when his hanover empire collapsed .
jointly owned by multi - millionaires mark hotchin and eric watson, hanover is new zealand' s largest privately owned financial services group with assets of over $ 1 billion .
the financial markets authority wouldn' t have won at trial, said mark hotchin and three other hanover directors who have reached an $ 18 million settlement with the regulator .
investors in hanover finance have moved quickly to help the company’s former head, mark hotchin, after a herald on sunday story revealed that he was struggling in poverty in australia. a facebook page entitled “friends of mark hotchin” has already gained over 800 “likes”, and a bank account is to be opened this week for the beleaguered former financier .
members of the friends of mark hotchin group say they have a number of fundraising plans. they have approached tv3 and are in discussions with the broadcaster about a telethon .
hanover finance co - founder mark hotchin has purchased a $ 1. 5m holiday home on waiheke island sparking fresh suggestions he is eyeing up permanent return home to new zealand .
former hanover director mark hotchin has fought to have guardian trust included in the fma' s civil case against him and five others associated with the finance group. photo / brett phibbs
hanover finance co - owner eric watson is still in the frame of a securities commission investigation that this week invoked unprecedented powers to freeze the assets of his business partner mark hotchin .
this being the first day of june, 2012, i am simply publishing a piece i first penned december, 2011, to mark the then first twelve months of ex - finance company director mark hotchin' s asset freeze, not only without trial, but without a charge having been laid. nothing has changed from when i wrote this; hotchin now enters his
mark hotchin may be about to return to live in auckland. interests linked to the former hanover co - director and co - owner paid $ 8 million for a landmark remuera mansion .
the real reason behind judith collins’ demise justice minister judith collins’ resignation was sparked by a sunday star - times investigation into a smear campaign by bloggers apparently backed by controversial financier mark hotchin .
iris smythe is one of the people behind the campaign to help hotchin. she said the way hotchin had been forced to suffer was a outrage .
he will find that respected judge lester chisholm completely exonerated mark hotchin from paying anyone to attack the sfo. parker’s dreaming when he makes baseless allegations from imaginary friends he may have at the sfo .
it is notworthy that john’s brother mark hotchin was recently granted high profile exposure on public television in a primetime tv3 interview to share with the public how much he is suffering in terms of material deprivation etc. following the collapse of hanover finance, that also left $ 13, 000 investors out of pocket. mark hotchin was director at the time of its collapse and eric watson its owner .
it' s no longer jack' s point, it' s eric & mark' s point now. . lol
threatened by litigation, his business in tatters, former hanover finance boss mark hotchin appeared to back a public relations campaign aiming to discredit criminal investigations into his company and attack personal enemies, documents suggest .
former hanover finance principal mark hotchin can try to force the failed lender' s former trustee guardian trust to contribute to an $ 18 million settlement after winning his appeal in a split supreme court decision .
auckland' s most expensive house, the seven - bedroom mansion on exclusive paritai drive partly financed by former hanover finance director mark hotchin, has been sold to businessman deyi shi for $ 39 million .
we have now seen labour’s dirty politics tactics in actions with the brazen coward david parker standing in the general debate yesterday and outrageously smearing and defaming mark hotchin, carrick graham, cathy odgers and myself .
hotchin is fair game however reference to his wife or children is morally reprehensible .
well written comment bernard, hotchin was corrupt and headed a giant ponzi scheme .
i don’t see any advantage to collins to side with hotchin to undermine feeley .
mark started doing two or three a year and made a bit of a margin and thought' why don' t i do 20 or 30 a year, or as many as i can find' ,
says mark' s friend .
shareholder support package the documents also disclose that hanover' s shareholders, mark hotchin and eric watson, $ 96 million support package agreed to in the moratorium proposal has actually ended up with a lower value .
at the end of last night' s interview, journalist mark sainsbury read out feedback from some readers who suggested the appearance was a public relations stunt and mr hotchin' s remorse wasn' t genuine .
ms collins resigned from cabinet in august after an email was revealed in which her name was linked to a smear campaign against mr feeley run by mr slater and other parties linked to former hanover director mark hotchin .
pascoe recalls the young mark hotchin as energetic, hospitable and industrious. in his early 20s he would buy and do up old houses for resale .
i remember visiting him when he and john were living in one such house in campbell rd, one tree hill, about the time mark' s girlfriend gave birth to his daughter .
hotchin blames allied farmers for hanover' s problems and refuses to accept responsibility himself .
the pair are negotiating to buy wellington corporate cabs, also owned by mr hotchin .
qv lists hotchin as owner of 50 ohinerau st in remuera, with lynne pamela hotchin and jillian allison. it has a current council valuation of $ 1. 4m .
see the full statement from hotchin, gordon, muir and o' regan below .
mark hotchin' s friend says he is a good bloke to socialise with .
on a personal level he' s very good with people, loyal to his mates and not pretentious in any shape or form .
two weeks ago the press council busted the nz herald and david ‘tainted’ fisher for making stuff up. the herald and brian gaynor also had to apologise to mark hotchin for defamatory comments made in their articles about him ,
principal mark hotchin' s assets have been frozen since december 2010 by the fma' s predecessor, the securities commission, including the proceeds from his multi - million dollar mansion on auckland' s exclusive paritai drive .
an inquiry into judith collins' downfall is poised to investigate links between former hanover boss mark hotchin and right - wing bloggers who waged a smear campaign against ex - serious fraud office (sfo) chief executive adam feeley .
stupidity is relative. like you voting to approve the sale go forward rather than to tip hanover into receivership - gifting mark hotchin and eric watson a houdini like exit strategy. take some responsibility snowflake. actions have consequences .
all the financier’s men threatened by litigation, his business in tatters, former hanover finance boss mark hotchin appeared to back a public relations campaign aiming to discredit criminal investigations into his company and attack personal enemies, documents suggest .
the dissenting judges, justices terence arnold and mark o' regan, agreed hotchin would have to accept liability in pursuing a claim against guardian trust, but disagreed damages caused by the trustee was equal to that of the directors .
kiwi in europe just to help you understand it in the most simplest way. . mark & eric are wearing different hats (entities). . mark + eric = axis properties & hanover... right? ? hope this helps you out coz u sound very confused .
mark hotchin had sought to make trustees guardian trust and perpetual trust jointly responsible for paying any compensation, alleging they would have breached their duties to investors if the directors were found at fault - but later abandoned his claim against perpetual .
today' s report also reveals key figures in the inquiry into ms collins tried to suspend the probe, given the possibility of a criminal investigation into the aggressive public relations strategy employed on behalf of former hanover finance boss mark hotchin .
jacks point may be a very nice piece of land, but sadly same old names keep popping up when ever an investor has lost out, and those names are mark hotchin, eric watson and handover (also axis properties). whenever you hear those names, look for your wallet and make certain it is shut. they have a way of parting investors from their money and turning the investors equity into their (mark and erics) equity. and for the investors trouble mark and eric give you their debts .
mark had been pretty successful to be able to have the equity to [ set up ] hanover, to buy the assets from elders .
you better watch out! you better not cry! you better hold on 2 ya cash coz mark n eric r coming 2 town. .
what a disappointment that she’s apparently so two - faced, as her mercenary involvement in carrick graham’s protracted ‘hit jobs’ on behalf of mark hotchin appear to indicate. but more to the point: does it look like she was deceiving us ?
hanover finance director mark hotchin attended a meeting of the company’s investors yesterday, and spoke about how the company’s plight had affected him personally. emotional and struggling to hold back tears, hotchin told the gathered investors about the pain he felt. “the recession has left me financially devastated, ” he explained. “i feel your pain. i…
the hotchin property in paritai drive reportedly cost $ 43 million to build. photo / brett phibbs
nbr understands both mr watson and mr hotchin are on the serious fraud office border alert list .
group co - founder denis sheridan said he hoped they could help hotchin and others like him .
and former hanover boss mark hotchin, despite his offer to talk from overseas via video link, was also not interviewed. at the time of the email the sfo was investigating hanover, and the investigation was eventually dropped with no charges laid .
mark hotchin credits as having given him
a leg - up
on the wealth ladder a st heliers property called regency court. he bought it 1991 in a distressed sale for $ 6 million, completed it and sold it for $ 10 million .
watson and hotchin companies took $ 117. 8 million out of hanover finance in related party loans .
gapes, a former close friend of hotchin, was also among the victims of the smear campaign .
i read your article re hotchin et al with great interest and very much agree with your sentiments .
lloyd hotchin' s death notice, published in the herald in november 2005, said in part ,
lloyd, darling husband and best friend for 50 years, of beverley, and beloved father and mentor to mark, john and lost son paul .
rod pascoe, a friend of john hotchin in their younger days, recalls that mark was rescued by his father when his first business, a sports goods store, got into financial trouble .
lloyd helped mark out financially ,
says pascoe .
our group of mates were very impressed that lloyd would help his boy in this way rather than let him get a bad credit rating with a business failure .
justice glazebrook said she would have let costs where they lie
given the formidable obstacles to mr hotchin ultimately succeeding
, but chief justice elias and justice young awarded them to hotchin because of his success .
it was also sent to a
carrick
- carrick graham who was representing hotchin at the time .
since the demise of hanover in 2008, hotchin, 57, has lived mostly in australia and hawaii .
no wonder people welcome the inconvenience and embarassment being visited on mr hotchin by a reporter and a photographer .
freezing orders over hotchin' s assets will also be lifted as a result of the settlement .
the home is owned by a family trust, which mr hotchin said he was unable to talk about .
soon after the release of dirty politics, odgers' employer confirmed she was no longer working for them
by mutual consent
. mark hotchin allegedly paid odgers to run a smear campaign against the head of the serious fraud office and the financial markets authority, while hotchin was being investigated by said authorities. this led to the minister of justice judith collins losing her job .
quite right, mark hotchin' s not the only one - so let' s leave him be. just like osama bin laden isn' t the only terrorist in the world and jeff dahmer isn' t the first guy to eat his victims after killing them .
mark hotchin puts a lot of effort into fitness but is also a smoker. the herald understands he gave instructions that a house (not yet built) for his property on boatshed bay, waiheke island, be designed to give him sheltered outdoor smoking spots whatever the wind direction .
paul lloyd hotchin would now be 53. his family has not heard a word from him in at least 30 years. lloyd hotchin died without discovering what became of his eldest son, a friend of the father says .
it is also illusory for hotchin to claim that for every $ 1 that went out $ 2 went in .
the fma’s asset preservation orders over the assets of mr hotchin have been lifted as a result of the settlement .
carrick graham issued a statement this afternoon, saying mr chisholm' s report had exonerated his client mr hotchin .
funny, ron mark said this was a bad choice now he is minister rubber stamps the buy. in the end it is the public service that runs the ...
when you engineer a scheme with highly questionable ethics and self serving outcomes you never plan to get caught. mark i believe you -' this was never the plan' .
people close to hotchin say while his new zealand assets are frozen, he still has access to money in australia .
in november, hotchin family trust ka no 3 bought 74 korora rd, oneroa, for $ 3. 4m .
hotchin and watson et al are the poster children for a morally empty society that venerates material wealth over other values .
hotchin' s assets and a related trust are in limbo, with freezing orders issued in 2010 remaining in force .
however a majority verdict of the supreme court in wellington has warned there are
formidable obstacles
to hotchin succeeding .
the korora rd property that the hotchin family trust has purchased for $ 3. 4 million. photo / dean purcell
david parker is running his mouth in places he shouldn’t with an outrageous name check and then smear in the house against cactus kate, carrick graham, mark hotchin and myself. this has to be a joke from a man who has integrity so low he ran off with his sick mates missus .
mr hotchin said in a statement through his lawyers that: “as the matter is before the court, and the investigation is said to be incomplete, hanover and mr hotchin do not propose to make any further comment at this time. ”
made first fortune in office supplies. branched into retail mid - 1990s when he bought large new zealand bookseller whitcoulls. with mark hotchin (see), co - owns privately held hanover group financial services firm. lives in london. also owns a stake in new zealand warriors, a professional rugby team .
news that hanover finance’s mark hotchin is struggling to find the money to pay contractors to finish his $ 50 million palace has galvanised the orakei community into action. last week a team of volunteers went onto the property to help with the landscaping and building work. and on saturday morning jim mora and the crew…
you deliberately miss my point again, pragma. which is that hotchin was not, repeat, not, my point .
as hotchin accepted, however, he would need to prove at trial that he is liable in tort to the investors .
the emails indicate the campaign was orchestrated by hotchin' s then spokesman carrick graham, a pr consultant and tobacco lobbyist .
more substantive previous tweets by @ whaledump have led to new questions about the actions of various players in nicky hager' s dirty politics, including mr slater, ex - justice minister judith collins, mark hotchin, former pm staffer jason ede, food & grocery council ceo katherine rich and pr operator carrick graham .
so after the serious fraud office can find no case to make mark hotchin answer, yet another government department, the draconian financial markets authority (fma) can in a yet to be held civil case, keep this individual’s assets frozen for five years without trial. justice this slow is not justice at all .
so get stuffed mark and grow up son. own up to your responsibilities and repay every cent that have available to repay investors - then and only then will people have respect for you .
her friend myra zhang, 63, lost her savings when hanover finance collapsed. she once owned a house in a good auckland suburb, but now lives with her son in a small two - bedroom unit. her health is poor and she cannot work, and she spends most of her time thinking about mark hotchin .
after the collapse new zealand properties owned by john hotchin and his brother mark hotchin, both co - founders of nathans finance and vtl group, “appear to have been sold in early 2008. one, a substantial remuera residence, was sold to former auckland mayor john banks for $ 3. 4m. a beachfront house at pauanui sold for $ 2. 7m – a healthy gain on the $ 1. 9m the hotchins paid in 2004. ”
the hotchin boys grew up in mangere across the road from the kirwans, whose son john found fame with the all blacks .
hotchin appears to have also attended st paul' s college which lists him among its alumni as having done well in business .
it was obvious i was someone hotchin was worried about when he was being investigated by the sfo ,
said gapes .
the house, at 46a matapana road in boatshed bay, was previously owned by hotchin through a trust known as ka 3 .
mr hotchin last night claimed that allied farmers, which took on hanover' s debt, had wrecked it and wasted it .
mark hotchin, the former hanover finance boss who told the high court in february he could not live on $ 1000 a week, has hired top defamation lawyer julian miles qc to sue the new zealand herald and business columnist brian gaynor for a series of stories published over the past two - and - a - half years .
“building a vast mansion even as the company you operate is collapsing all around you… well, that could happen to anyone. ” investors in hanover finance have moved quickly to help the company’s former head, mark hotchin, after a herald on sunday story revealed that he was struggling in poverty in australia. a facebook page entitled “friends…
the settlement comes after the fma filed civil proceedings against directors and promoters of hanover including former owners mark hotchin and eric watson in april 2012. the proceedings covered a period when investments and reinvestments in hanover totalled $ 35 million. the former directors have not admitted any liability. watson is not contributing any money toward the settlement .
thus watson, hotchin and their associated companies took out $ 163. 3 million and put in $ 68. 5 million during this period, a far cry from hotchin' s claim that they put in $ 2 for every $ 1 they took out .
at the same time, a hawaiian mansion owned by a trust associated with hotchin has reportedly been on the market for $ 16m .
hotchin and other hanover directors in 2015 paid $ 18 million to settle a civil claim brought against them by the financial markets authority .
mr hotchin and mr watson are also co - owners of ohl, formerly hanover overseas, owns several tracts of forestry in northland .
i wonder if we should be heaping all this opprobrium and vitriol upon mr hotchin without giving some thought as to the possible consequences .
if say mark hotchin was to approach me for work i would charge absolutely heaps because a) he has heaps of coin, b) he has a reputation worse than a tobacco company and c) because he can ,
slater wrote. he has previously denied accusations of cash - for - comment by saying all his published articles are honestly - held beliefs. but a review of whaleoil posts mentioning hotchin finds a marked change in opinion about the hanover boss .
the directors of the hanover finance companies (hfl, hcl and ufl) are mark hotchin, gregory muir, tipene o' regan, and bruce gordon. the directors of hanover group ltd (hgl), which the fma alleges was a promoter of offers made by the three hanover finance companies, were eric watson and dennis broit .
nothing attracted vitriol to my old blog life behind the iron drape more than the pieces i wrote on mark hotchin and allan hubbard (no relation). i may soon put them up again here, over december. for the coming one year anniversary i' m writing of is the freeze that was put on mark hotchin' s assets over december, 2010. i have no idea whether hotchin will be found wanting in respect of the laws of new zealand, but he has now had his life frozen by the state for a year and not only has never been given the chance to defend himself in court, he' s still not had a single charge laid against him. to me, this denotes a state with far more power than i' m comfortable with, and no justice for the individual of mark hotchin, no matter what you think of him. the champagne thieving bureaucrats at the sfo need to charge hotchin, or not, and give him his day in court (and unlike mr hubbard, don' t make him have to sue to use his own money to defend himself). this isn' t putin' s russia, is it? it' s new zealand. perhaps the difference is far less than we would all like to think .
hotchin and watson stand accused of taking millions of dollars out in dividends and borrowing from hanover for their own property developments and joint ventures .
the herald on sunday has learned that interests associated with hotchin recently bought the luxury ash hurst mansion on the suburb' s northern slopes .
ms brown confirmed the order was sought over concerns assets might be appropriated abroad were civil or criminal action to be brought against mr hotchin .
i always had a lot of time for mark. even when he got hugely wealthy, he didn' t shun mates and acquaintances from the past or pretend he didn' t see them at events .
in other words hotchin has come out of hiding to tell us that allied farmers created the mess while accepting no responsibility for the debacle himself .
the broad strategy adopted by the trio was outlined by graham in an email to hotchin and former hanover chief executive kerry finnigan in december 2011 .
accountant bruce sheppard, a hanover critic, said hotchin had been spotted on waiheke island and in auckland' s eastern suburbs in recent months .
hotchin and five others associated with hanover companies are being sued by the financial markets authority for allegedly misleading or untrue statements in finance company prospectuses .
but fairfax did have a large tranche of emails that inform an in - depth investigation revealing hotchin' s apparent backing for the smear campaign .
he said mr hotchin had been the subject of numerous defamatory or misleading media reports, and his organisation facilitate communications had worked to address this .
smythe said she planned to donate what little she had left. she said she hoped the cash would help hotchin enjoy a better life abroad .
ironically, watson probably didn' t know what was going on (doesn' t mean he' s less reponsible) and didn' t get to share in all mark' s little side deals if these were happening .
he considered hotchin to be more conservative than watson .
eric just wants leverage. he' s always talking about how he can raise capital .
the emails were sent at the same time as the former shareholders' association president was involved in defamation against hotchin and fellow hanover boss eric watson .
hell put the face of mr hotchin, hanover' s co - founder, on a billboard next to the word greed, the name of one of its pizzas. this week it drove the billboard around auckland and parked it outside the $ 30 million home that mr hotchin is having built .
two exclusive waiheke island properties owned by the ka no. 4 trustee, a family trust associated with hotchin, have also come on the market .
we don' t have to justify where we get our money or what it' s spent on, to anyone .
- amanda hotchin
but the fma did not have any such orders over any trusts associated with hotchin, and therefore could not intervene in any purchases by the trusts .
an order, granted to the securities commission in december, froze mr hotchin' s assets and gave him $ 1000 a week to live on .
r. mcleod - the real issue is whether hotchin committed fraud or not. the premium hanover offered was hardly sufficient to take that particular risk .
serioulsy, is mark hotchin the real bad guy? is he the only one guilty of bad investment decisions? if he is smart enough to protect his assets via a trust, good on him! he was in a risky industry, and poeple invested in the upside. the issue is not hochin or hannover but why so many invested in such risky assets... .
hotchin and five others, including watson, will face a high court trial next year after they pleaded not guilty to civil charges brought by the fma .
in march, the five supreme court judges were told hotchin had abandoned his claim against perpetual trust after reaching a settlement, leaving only guardian trust remaining .
hotchin' s lawyer, nathan gedye​, qc, said he had yet to read the judgment or speak to his client to discuss the next steps .
we do not believe the fma would have succeeded at trial ,
a statement issued by hotchin, muir, gordon and o' regan said .
it was hotchin' s flagship development and a plaque to his late father, lloyd, was installed next to the first green, overlooking the water .
i remember reading the endless posts on cactus kate about how hard hotchin was being done by, and at the time thinking how tiresome it was getting .
what fran o’sullivan and matt nippert do not realise is that cactus kate has already answered this in the inquiry even though it is beyond the terms of reference of the inquiry. they would like to think that mark hotchin (completely exonerated in the chisholm report) paid to “stitch up” not only adam feeley but a serious charge of influencing a witness. he did no such thing. read more »
watson said this week he was not aware hotchin had any plans to return to new zealand, but added it was not something he would expect to know .
it' s not surprising that hotchin tries to hide behind his family. he did it with the hell pizza ads, he' s doing it now .
some of you will have heard of madoff (cleans out $ us50b in ponzi scam), fuld (lehman bros ceo, watches over one of the largest corporate failures), well on a population basis mark and eric are right up there .
hotchin' s wife is just as culpable as hotchin for lavishly spending all that money they conned. his kids are spoilt brats - and, like most spoilt rich kids, they' ll join
a band
and
go travelling
as their career - financed by the inheritance taken from a more needy family .
as former managing director of hanover finance, hotchin was at the time under investigation from the sfo and fma for his role in the failure of hanover in 2008 .
hanover and its sister, united finance, owned by hotchin and business partner eric watson, collapsed in july 2008 owing $ 553 million to 17, 630 investors .
action could go global the hanover pair have in recent years lived mostly abroad – mr watson in the uk, and mr hotchin in hawaii, italy and australia .
the herald has well and truly lowered itself to the gutter. i thought it was a shameless piece of journalism. this in no way is to defend hotchin .
the court of appeal had previously ruled against hotchin, saying the trustees had different responsibilities from hanover' s principals and could not be held liable for their fault .
all posts copyright mark hubbard and life behind the iron drape. contents may be reproduced without permission provided credit is given to the author, it is not altered in any way, the context is made clear and a link is provided to the original .
working within tightly prescribed terms of reference, justice chisholm inquired into the sleazy, dishonest ‘destabilisation’ scheme which saw dirty pr operator carrick graham apparently engage slater and fellow attack blogger cathy odgers / cactus kate to publish smears against financial regulators and investigators on behalf of hanover finance director mark hotchin. they were ‘working for’ graham, chisholm finds. apparently some journalists were (witting or unwitting) pawns in that dirty campaign. shame .
image 13 of 20: justice minister judith collins during her stand - up press conference where she revealed she had dinner with the head of oravida while in china last year. photographed at parliament, wellington. 12 march 2014 new zealand herald photograph by mark mitchell
hotchin appealed against the freezing orders; three months later chief high court judge helen winkelmann has yet to rule on the matter. nor have the regulators completed their investigations .
hotchin purchased the two - bedroom, 190sqm home with
magnificent sea views
overlooking sandy bay with his former wife lynette and jillian allison, according to property records .
on top of this around 10, 000 hours of fma staff time was spent on the case and on the asset freeze proceedings against hotchin and entities associated with him .
we all know that if hotchin returned every penny, that had been invested, people woudl still want their dividends... the perfect storm of greed and stupidity !
articles entitled
hanover house of cards doomed to fail
dated 6 march 2010 and
mark hotchin: the man behind the money
dated 19 february 2011 asserted that hanover declared dividends out of non - cash profits, and an article entitled
brian gaynor: message to hotchin - own up or shut up
asserted that those dividend payments should not have been made. the first two of these articles also asserted that hanover was, in effect, operated like a ponzi scheme. the herald acknowledges that hanover was not a ponzi scheme, and that mr hotchin did not act illegally in receiving dividends from hanover, and apologises if any readers took those messages from these articles. the main purpose of all of these articles was to call for greater regulation of the finance industry .
the main item in the $ 76 million was the transfer of property companies from hotchin and watson to hanover for $ 40 million as part of the december 2008 moratorium proposal .
hotchin :
because they went back in, it was liquidity, every dollar that went out two dollars was going back in, so it was actually creating liquidity .
hotchin :
yes although in part it' s about liquidity as well, so if we hadn' t paid that money, those debts would have stayed higher .
the settlement was reached with no admission of liability, and in a statement hotchin and three other directors said the fma would never have won had the case gone to trial .
these trusts, a series of numbered companies beginning with ka no. 1 trustee, own property connected with mr hotchin including his half - built $ 30m paratai drive mansion .
belinda moffat, from the financial markets authority, said hotchin' s personal assets remained frozen as it continued to have asset preservation orders granted by the high court over these .
mark came to realise that if he owned the finance company, he could control all angles ,
says the friend .
at a time when the price of assets [ property ] was going up because anyone could get credit, it was easy money .
the picture of a sneering, snarling hotchin telling them to leave him alone will, i hope, been seen as the photo of the year. it captures the man perfectly .
i have no sympathy for hotchin but the reality is that he has been charged with no crime and the action against him in freezing his assets is no more than a sc / govt publicity stunt aimed to show their detractors that it was not sitting idly by in not taking any action aginst these people while putting an old man into statutory management. at least the actions against hotchin appear to be legal but one has to question the fairness of that law. as mentioned previously it is very effective and limits both hotchin and hubbard' s right to natural justice i. e. inablility to pay for legal representation although i do note that this does not seem to be a issue for mr hotchin at this time .
i am not a fan of some of the contributors to the nz herald but the fervour with which they have hunted and hounded hotchin must surely give the investors some small satisfaction .
“hotchin and his business partner eric watson should be booed by the crowd at mt smart stadium if he ever dares to return home to watch the warriors play on home turf. ”
in one email, odgers said :
remind him [ hotchin ] he pays cam n i to f - - - w fma so he can focus on important things .
this column - run without disclosure that odgers was allegedly being paid at the time by hotchin and described by her in emails as a
hit
- is now heavy with irony .
last year, hotchin' s former holiday home went up in a ball of flames but the deliberate demolition was little consolation to investors who were themselves burned when his hanover empire collapsed .
in 2013 auckland' s most expensive house, a seven - bedroom mansion on exclusive paritai dr, which was partly financed by hotchin, sold to businessman deyi shi for $ 39m .
hotchin was among a group of six directors who in 2015 reached an $ 18m settlement with the financial markets authority which had filed civil proceedings alleging untrue statements in certain hanover offer documents .
the judge also noted hotchin' s
very strong public statements
rejecting any liability when reaching a deal with the fma, which he said wouldn' t affect the contribution claim .
undeterred by this business - like ‘rebuff’, businessday has accessed hotchin’s us property records to dig deeper. it notes justice lang’s comments in court at sentencing that hotchin owned no assets, other than a house in america, which secured loans exceeding its value. he added: “it is virtually inevitable …. that at 51 years of age you will be declared bankrupt. ”
hotchin and five other directors and promoters of the failed finance company are being sued by the fma, which alleges they were responsible for false statements that led to major losses for investors .
in a parallel legal battle that has gone all the way to the supreme court, hotchin is also attempting to make trustees jointly liable for any damages that result from the civil lawsuit .
fran, is there any chance you could interview mr hotchin i am sure you would ask a better quality question. also it would be interesting to get him and his brother together .
“when jim died i had to borrow money off my daughters just to pay the funeral bill. but hotchin can’t even afford the money for a personal trainer. the poor man. ”
i am not saying that means every individual action with regards to the sharing of information was wise or appropriate. some clearly was not. but it was not a conspiracy or a concerted effort. one could have published a breathless book on how the nz herald conspired with agents of mark hotchin to attack the head of the sfo, and demand a commission of inquiry into the nz herald – if you were to take the least benign interpretation of the e - mails .
ok. . so, i' m not a mark hotchin fan given the deplorable and frankly immoral,' sharp - practice' that hanover interests appear to have indulged in over the last few years. however, i am christian so i do hope that your readers have banded together at this festive time and recognized a family in need of a food parcel or two! ! (tongue in cheek). i do hope that a parcel gets deposited onto his expensive australian doorstep (and photographed there) given that he is likely to remain at his (luxurious) premises for a while. sad to think that his trusty (mercedes and porsche) steads are unlikely to follow him over there! merry christmas mark - we all follow your story with interest !
actually, come to think of it, all this emotion about hotchin applies equally to hubbard. in fact hubbard is probably worse, with all his timaru (yes - men) cronies. at least hotchin brought in an independent board. the reality is look at the litany of failed finance companies. the property boom went bust, the finance companies followed. that simple .
the basic problem with hotchin is that he promised too much and failed to deliver. but he blames everyone else for hanover' s problems and continues to paint himself as a white knight .
this was purported to be an injection of $ 40 million because hanover did not have to pay watson and hotchin the $ 40 million until all of principal repayments to secured depositors were repaid .
last year, hotchin won the right to pursue new zealand guardian trust for a contribution to the settlement, so long as he accepted he would need to prove he was liable to investors .
meanwhile the wheels of justice turn, albeit slowly. the unprecedented decision by the securities commission to freeze hotchin' s assets is welcome. as is the serioud fraud investigation into his affairs .
it' s karma of a sort. i' m sure hotchin and his mates would set a lot more than a herald cameraman onto people who owed his company a few thousand dollars .
i just hope that we don' t let up on hotchin, but i also hope that the focus on him doesn' t allow the behaviour of others to slide under the radar .
george craddock, of waihi, said news of the waiheke island purchase left a sour taste. the herald on sunday could not contact hotchin for comment. his accountants said he was overseas .
the four directors - hotchin, bruce gordon, gregory muir and tipene o' regan - also said the failed finance company had
excellent reporting systems and high quality management and governance
.
graham emailed slater and odgers in may 2011, including snippets of material from hotchin' s defamation claim against sheppard and complaints sheppard had made about hanover to regulators obtained under the official information act.
mark stephen hotchin ( born 25 december 1958 ) is a new zealand property developer and financier . he was a director of the hanover group which owned a number of finance companies including hanover finance , united finance , nationwide finance and fai finance . the hanover group also had interests in property and was responsible for developing matarangi beach estates and golf course , and acquired completed lots at the jacks point property sub-division in queenstown . the group also had property and finance interests in australia . with eric watson he bought 30 per cent of elders finance in 1999 and in december that year bought it outright . elders finance became the core of what would become hanover finance . two years on , their other finance and investment assets ( nationwide finance , leasing solutions , elders home loans and hanover securities ) were rolled in to create hanover group with reported assets of $ 650m . the flow on effects of the financial crisis of 2007 – 08 and nervous reaction of investors lowered overall confidence in the market and saw over 50 finance companies in new zealand fail by 2010 . hanover applied to the trustee for a repayment freeze or moratorium rather than a receivership . after the repayment freeze hanover prepared a debt repayment plan , offering to repay investors over a 5-year period . as part of the plan , hotchin and watson pledged $ 96 million of assets . these assets fell in value as property prices declined . hotchin arranged for allied farmers to take over the failing business , but the losses overwhelmed the new owner and the business was put into liquidation in 2010 . in december 2011 the financial markets authority ( fma ) announced that it proposed to file civil proceedings against hotchin and the other directors and promoters of hanover . 
mark stephen hotchin (born 25 december 1958) is a new zealand property developer and financier. he was a director of the hanover group which owned a number of finance companies including hanover finance, united finance, nationwide finance and fai finance. the hanover group also had interests in property and was responsible for developing matarangi beach estates and golf course, and acquired completed lots at the jacks point property sub-division in queenstown. the group also had property and finance interests in australia. with eric watson he bought 30 per cent of elders finance in 1999 and in december that year bought it outright. elders finance became the core of what would become hanover finance. two years on, their other finance and investment assets (nationwide finance, leasing solutions, elders home loans and hanover securities) were rolled in to create hanover group with reported assets of $ 650m. the flow on effects of the financial crisis of 2007 – 08 and nervous reaction of investors lowered overall confidence in the market and saw over 50 finance companies in new zealand fail by 2010. hanover applied to the trustee for a repayment freeze or moratorium rather than a receivership. after the repayment freeze hanover prepared a debt repayment plan, offering to repay investors over a 5-year period. as part of the plan, hotchin and watson pledged $ 96 million of assets. these assets fell in value as property prices declined. hotchin arranged for allied farmers to take over the failing business, but the losses overwhelmed the new owner and the business was put into liquidation in 2010. in december 2011 the financial markets authority (fma) announced that it proposed to file civil proceedings against hotchin and the other directors and promoters of hanover.
mark stephen hotchin (born 25 december 1958) is a new zealand property developer and financier. he was a director of the hanover group which owned a number of finance companies including hanover finance, united finance, nationwide finance and fai finance. the hanover group also had interests in property and was responsible for developing matarangi beach estates and golf course, and acquired completed lots at the jacks point property sub-division in queenstown. the group also had property and finance interests in australia. with eric watson he bought 30 per cent of elders finance in 1999 and in december that year bought it outright. elders finance became the core of what would become hanover finance. two years on, their other finance and investment assets (nationwide finance, leasing solutions, elders home loans and hanover securities) were rolled in to create hanover group with reported assets of $ 650m. the flow on effects of the financial crisis of 2007 – 08 and nervous reaction of investors lowered overall confidence in the market and saw over 50 finance companies in new zealand fail by 2010. hanover applied to the trustee for a repayment freeze or moratorium rather than a receivership. after the repayment freeze hanover prepared a debt repayment plan, offering to repay investors over a 5-year period. as part of the plan, hotchin and watson pledged $ 96 million of assets. these assets fell in value as property prices declined. hotchin arranged for allied farmers to take over the failing business, but the losses overwhelmed the new owner and the business was put into liquidation in 2010. in december 2011 the financial markets authority (fma) announced that it proposed to file civil proceedings against hotchin and the other directors and promoters of hanover.