Hawkins and family back in business

Press, 2 June 1989, Page 14

Hawkins and family back in business

PA Auckland The former Equiticorp chairman, Mr Allan Hawkins, is setting up a new company. He has teamed up with his wife, Laurel Hawkins, his son, Glenn, and an ex-Ararimu Partners director Steve Eltringham and is working out of the fifth floor of Equiticorp House.

Arariinu Partners was a stock brokerage firm associated with Equiticorp.

Mr Hawkins said he did not want to talk to anyone about his business activities yet but he did confirm that, since Equiticorp went into receivership, he had been working with his wife and son and Mr Eltringham.

The group recently bought a building and would move in next week, market sources said.

Sources said the company had also bought a dry-clean-ing operation at the top of Queen St.

Mr Hawkins said “no comment" to the first suggestion and laughed at the second. Banking sources claimed the Hawkins company in-

tended getting into money market and foreign exchange dealing — but they were not sure where the credit lines would come from.

"The word is definitely around the marketplace that

Hawkins is out there looking at deals." one broker said.

Some in the marketplace were anticipating that Ararimu Holdings might be the vehicle through which the Hawkinses' new venture resurfaced.

The Equiticorp receiver. Mr Fred Watson, said that while Ararimu Partners defaulted on the Stock Exchange. its parent companv Ararimu Holdings was still trading. “Its future depends, however. on the directions of the court.

"Mr Hawkins asked to rent space in Equiticorp House after completing his assistance to the receivers at the end of March." Mr Watson said.

“The space was vacant, so it was agreed it would be let to him at market rates on a fortnightly basis. This was on the understanding that if a suitable tenant was found he would vacate the premises." The statutory managers knew nothing about Mr Hawkins' private business activities, Mr Watson said.