IN SIDE
Hug rugs By Sue Wards
More rabits pose a problem Page 3
Here’s to you Mrs Robinson Page 5
Forty-four snuggly fleece rugs are bound for Japan thanks to MountAspiring College’s International Language Centre. Centre manager Claire Easterbrook was contacted by ex-students in Japan after the 9 magnitude earthquake and tsunami in Japan on March 11. They said: “Send rugs: it’s freezing.” Claire sourced fleece rugs from the Warehouse, which offered to donate a portion of the cost. The remaining cost will be covered by a MAC mufti-day. The 44 rugs will represent each of MAC’s school families/ whanau. Each rug will
include a calico triangle with “I love Japan” and messages of support from the students. Claire will also host a concert on April 3 at her home, the Riverhouse, to raise money for Japan. The concert will take place the day after the Red & Black Quake Relief Concert in the Lake Wanaka Centre and will feature some of the same acts. “If anyone in the Wanaka community would like to donate money to the cause that would be helpful,” Claire said. See classifieds for details.
Page 9
Gearing up for TRENZ Page 11
Viewpoint Page 13
Claire Easterbrook models a hug rug bound for Japan.
PHOTO: SUE WARDS
Found guilty
Property in Tarras over-valued
By Malcolm Frith
Premier will be a tribute
8,300 FREE
www.thewanakasun.co.nz
Thursday 24 March to Wednesday 30 March 2011
Two Wanaka registered valuers have been found guilty of a ‘gross over-valuation’ of a property at Tarras. A Valuers Registration Board inquiry in Wellington last May heard Mr Kenneth Goldfinch had assessed a current market value of a property at 723 Ardgour Valley Road, Tarras (excluding GST, if any) at $1,500,000 inclusive of chattels of $50,000 and a land value of $400,000. The total value of improvements was stated at $1,050,000. The inquiry heard the property comprised a lifestyle block of 8.0152 hecteres on which was developed a substantially re-built family home. In addition there were other substantial improvements on the land including a barn, used to store vehicles, and a large swimming pool. DBR Property Finances Limited requested that on April 8, 2008
the valuation report prepared by Mr Goldfinch be re-addressed to them, and co–signed by Mr Malcolm Moore as a director of Moore and Percy Limited, who have an office in Wanaka. The inquiry was told the report was duly re-addressed, signed by Mr Goldfinch and co-signed by Mr Moore. In a letter of complaint to the Valuers Registration Board, DBR, which had lent on the property, alleged it was grossly over-valued and should have had a value more like $800,000 plus GST. Retrospective valuations were prepared for the Valuer General during his investigation process. Two registered valuers prepared reports and both gave evidence before the Board. One assessed a value of $1,030,000 including GST while the other assessed a value of $750,000 excluding
Malcolm Moore. Ken Goldfinch.
Inquiry: Both men breached their respective obligations as registered valuers GST (if any). In separate decisions the Valuers Registration Board said that both Mr Goldfinch and Mr Moore had breached their respective obligations as registered valuers.
While not necessarily reckless, the Board said that there was a level of indifference by Mr Goldfinch in preparing the valuation with a departure from accepted standards, which require a valuer to give careful consideration to the sales evidence. However, in a written decision, which was released last week by the Board inquiry, it stated it (the Board) was concerned with the action of Mr Moore At the inquiry hearing Mr Moore gave evidence that he was familiar with the property and had inspected it in the past. In the Board’s opinion, because Mr Moore undertook no work to determine whether or not the property was correctly valued, the co-signing was a reckless act which departed from acceptable standards, displayed indifference to the value level and therefore was an abuse of privilege. The Valuer General through
counsel submitted that by signing the report Mr Moore took a deliberate action, which he should have known at the time would mislead DBR or any other person who read the report. The Valuer General also referred to Mr Moore’s record of registration noting that three previous complaints have been made against him, two of which proceeded to a hearing and on one of which he was found guilty in 2001. On March 10, the Valuers Registration Board directed that Mr Goldfinch should pay costs of $10,000 and Mr Moore should pay costs of $10,000 in addition to a fine of $5,000. Asked to comment on the inquiry findings, Mr Goldfinch said, “It reflected the difficult environment valuers have to work in today.” Mr Moore declined to comment.