Does a litigation funder have a vendetta against Queenstown mayor Jim Boult? That’s the contention after a reveal that Chris Meehan is connected to the funding of a case against Boult. The case alleges that Boult’s companies, Stonewood Homes and Holmfirth Group, traded while insolvent. Millions of dollars were lost, and investors want their money back. Meehan himself is involved in a few nearby developments, one of which is in Queenstown.
An LFJ Conversation with Michael Kelley, Partner, Parker Poe
Does a litigation funder have a vendetta against Queenstown mayor Jim Boult? That’s the contention after a reveal that Chris Meehan is connected to the funding of a case against Boult. The case alleges that Boult’s companies, Stonewood Homes and Holmfirth Group, traded while insolvent. Millions of dollars were lost, and investors want their money back. Meehan himself is involved in a few nearby developments, one of which is in Queenstown.
Stuff New Zealand details that Boult is claiming that Meehan has ulterior political motives for funding the case against him, including an attempt to derail the next mayoral election.
Boult applied for, and was granted, a short stay in the liquidation. For his part, Meehan claims that his only motive for funding the case was profit.
The Judge, Owen Paulsen, was not convinced that Meehan had ulterior motive. Journalist Ann Wilson was reportedly paid by Meehan to gather intel on Boult and had signed a restrictive NDA. This led Wilson to believe that Meehan did, in fact, have a vendetta against Boult that became evident as he announced his plan to run for mayor in 2016
Ultimately, Judge Paulsen ruled that the liquidators were doing their jobs properly and that there’s nothing inherently illegal about Meehan wanting to make a profit.
