M.P.’s companies’ loss exceeds $140,000

Press, 21 April 1979, Page 3

M.P.’s companies’ loss exceeds $140,000

PA Kaitaia Losses of about $143,000 were revealed when the affairs of four Kaitaia companies controlled by Mr F. L. Rogers, M.P., were discussed at a meeting of creditors in Kaitaia. In Auckland, Mr K. S. Crawshaw was appointed liquidator of the parent firm of F. L, Rogers, Ltd, which has more than $200,000 in debts, and he was appointed to a similar position in Kaitaia. Mr Rogers said that unprofitable plumbing and drainage companies had been important factors in the losses. The position of none of the companies was known until the Auckland manager resigned after suffering heart attacks and the companies’ affairs were investigated, he said. Mr Crawshaw said there was little chance of continuing the $483,000 Taipa area school contract near Kaitaia. He believed that the contract price was suspect. Mr Rogers said it

was $60,000 below the next tender, which disturbed him. He had asked his Auckland staff to investigate, but they said the price was reasonably satisfactory. Mr Rogers said there were three fires in his Kaitaia office and a lot of records had disappeared, but he did not believe they covered the Taipa school tenders, because a set was held in Auckland. Mr Crawshaw said that F. L. Rogers, Ltd, had a very successful record until Mr Rogers entered Parliament in 1975 and relinquished direct control. Asked if the shareholders of the holding company were prepared to contribute anything personally to the deficiency, Mr Rogers said the records would show what he would carry in the loss of loans and capital. He had received no directors’ fees or expenses and he would not be in a position to contribute further.