Liquidator for firm run by Goldcorp head

Press, 8 March 1989, Page 39

Liquidator for firm run by Goldcorp head

PA Auckland Auckland’s Official Assignee has been appointed liquidator of Ray Smith’s private company, Blomfield Nominees. A creditors’ meeting was then told that no information was available on the company’s financial situation. Mr Smith, former chairman of Goldcorp Holdings (in receivership), was unlikely to return to New Zealand from the United States, Mr Reuben Chapple, for the Official Assignee, said at the meeting. “We have not seen the company books or records, and we do not have a statement of affairs,” he said. Asked if the Official Assignee intended to bring Mr Smith back to this country, Mr Chapple said it was unlikely because of

the financial consideration.

“We will, however, attempt to speak to Mr Smith by telephone.” The only creditor of Blomfield Nominees is the State Bank of South Australia, formerly Security Pacific Bank N.Z., which is owed $3.8 million. The bank initially loaned SUS2.9M (SNZ4.7M). Mr Bryan Dyke, senior manager, banking, said after the meeting that the bank had taken possession of a boat, art collection, and 12.6 M Goldcorp shares; all part of Mr Smith’s assets. Mr Smith is understood to be working for an airline in California. “I tend to agree with the statement that the more he (Mr Smith) earns the better it is,” Mr Dyke said. Blomfield Nominees

was wound up in the High Court in Auckland on February 8 this year. It was incorporated on February 26, 1987, first in the name of Star 53, Ltd, before changing its name to Blomfield on June 9, 1987. The company’s capital was SIOM, but it was not recorded as being paid, Mr Chapple said.

He said the object of the company was to purchase shares in Goldcorp. It had no employees and never traded. Shares were seized by the bank when payments were not made, he said. Mr Dyke asked the Official Assignee to look for some shares which might have changed hands in the past few months. He said afterwards that he had information to suggest some shares might be missing.