The
High Court ordered a financial audit and livestock reconciliation for 2500
hectare Wairarapa sheep and cattle property Waewaepa Station after joint owners
the McVitty and Currie families fell out.
US-based McVittys allege station operations are being mis-managed by the
Currie family.
Chartered accountants Grant Thornton were
appointed to audit financial years 2012 to 2015. James McVitty and brother William are two of
four Waewaepa directors. The other two
are father and son Shaun and Cameron Currie.
The McVittys allege Currie interests have taken advantage of their
living offshore to exploit Waeawaepa for their own personal benefit. In particular, the McVittys allege unapproved
and unbudgeted personal drawings made by members of the Currie family,
significant unauthorised increases in Shaun Currie’s salary and unauthorised
use of Waewaepa funds by members of the Currie family to meet business debts of
another family company.
Cameron Currie complains the McVittys
have full access to company records and that a detailed audit imposes unneccessary
costs on Waewaepa. Acting unilaterally,
the Curries had Waewaepa Station take steps to oppose the McVittys court application
for an audit; steps by Waewaepa which more properly required a prior board
meeting and approval by the company’s directors.
McVitty
v. Waewaepa Station – High Court (22.04.16)
16.064