Manfeild

[RogerH]

[QUOTE……The Manawatu Standard understands that a failure to renegotiate the terms of two loans totalling about $6 million from the Palmerston North City Council and Manawatu District Council prompted the resignations.[/I]
……. According to an independent auditor's report by AuditLink on the Manfeild Park Trust for the year ended June 30, 2014 loans from the two councils of $2,993,169 and $2,952,703 respectively…….[/QUOTE]

The General Manager Business of Manawatu District Council is Shayne Harris - who is also the President of MotorSport New Zealand. This is pretty well known so I'm sure there is no undisclosed conflict of interest.

[Southern Man]

Originally Posted by RogerH

[QUOTE……The Manawatu Standard understands that a failure to renegotiate the terms of two loans totalling about $6 million from the Palmerston North City Council and Manawatu District Council prompted the resignations.[/I]
……. According to an independent auditor's report by AuditLink on the Manfeild Park Trust for the year ended June 30, 2014 loans from the two councils of $2,993,169 and $2,952,703 respectively…….

The General Manager Business of Manawatu District Council is Shayne Harris - who is also the President of MotorSport New Zealand. This is pretty well known so I'm sure there is no undisclosed conflict of interest.[/QUOTE]

A couple of questions that could assist our thoughts that you maybe able to help us with Roger, (1) When were the loans first negotiated and (2) When was Shayne Harris appointed to that role?

[RogerH]

Originally Posted by Southern Man

The General Manager Business of Manawatu District Council is Shayne Harris - who is also the President of MotorSport New Zealand. This is pretty well known so I'm sure there is no undisclosed conflict of interest.

A couple of questions that could assist our thoughts that you maybe able to help us with Roger, (1) When were the loans first negotiated and (2) When was Shayne Harris appointed to that role?[/QUOTE]

I haven't researched the answers to those questions but I'm not inferring anything sinister. It is just an interesting situation where it seems to have evolved to the same person (with different hats) having positions on both sides of the fence. Obviously for a Council the size of MDC $3m of potential bad debt is very significant - on the other hand as President of MSNZ he has a constitutional responsibility to encourage participation in motor sport and the demise of a circuit would be a set back.