High Court ordered Auckland builder Maurice Witham repay immediately an overdue $430,000 loan from acquaintance Tony Piacun, arranged at a time when Mr Whitham’s business was facing strong financial headwinds and he was supposedly acting in Mr Piacun’s best interests holding an enduring power of attorney on Mr Piacun’s behalf.
Put to one side for a later full hearing in the High Court were Mr Witham’s claims that he is owed money for work done on two properties owned by Mr Piacun and that a dispute about interest on the $430,000 loan has not been finalised.
There is no argument that the $430,000 loan is overdue and unpaid, Justice O’Gorman said. It is to be repaid immediately, she ruled.
The court was told of the two being acquainted since 2009; Mr Witham’s children mowed lawns for Mr Piacun’s late mother.
Mr Witham says he provided financial assistance to Mr Piacun after his mother’s death; paying for her funeral and paying rates arrears.
Mr Witham says he then provided further assistance intended to improve Mr Piacun’s financial position; renovating a property Mr Piacun owns in Thames and renovating an Auckland property in Sandringham inherited from his mother, with work starting in late 2020.
In 2021, Mr Piacun signed a power of attorney in favour of Mr Witham and his spouse.
Within a few months, this power of attorney was used to access Mr Piacun’s bank account.
Mr Piacun alleges $939,000 was wrongly drawn down from his account, with $678,000 outstanding after some repayments made by the Whithams.
They say these drawdowns were done either with Mr Piacun’s permission or were reimbursement for renovation work completed on his behalf.
Mr Piacun revoked their power of attorney, appointing his daughter instead.
Included in the disputed $678,000 is an October 2022 loan of $425,000 signed by Mr Piacun between himself and a company owned by the Withams called Hibiscus Views Trust Ltd. The Whithams personally guaranteed Hibiscus Views December 2025 repayment.
While the loan was stated to be for $425,000 bank records show $430,000 was in fact drawn down from Mr Piacun’s bank account.
Mr Piacun’s daughter later initiated legal action, alleging withdrawals from her father’s bank account have been made without his authority and in breach of fiduciary duties the Withams owed him through the power of attorney they then held.
While ordering the overdue $430,000 be repaid immediately, Justice O’Gorman said a full court hearing is needed to determine any credit for the Withams against the balance claimed.
The Withams say it was agreed that they would contribute towards Mr Piacun’s living expenses in lieu of interest on the loan.
Their claim to a credit for renovations done for Mr Piacun’s benefit is complicated by the fact that this work was not invoiced by Mr Witham personally, instead invoiced by a company controlled by Mr Witham called Orewa Solutions Ltd.
Orewa Solutions went into liquidation insolvent in January 2025.
Piacun v. Witham – High Court (31.08.26)
26.245