Bryers firm ordered to pay up

Mark Bryers' Northern Crest Investments has been ordered to pay Sir Robert Jones' property company more than $280,000 after a judge ruled a counter claim by Northern Crest had no relevance.

Robert Jones Holdings applied to have a High Court summary judgment made against Northern Crest over "loss of bargain" damages and related costs over Northern Crest's abandonment of offices on level 12 of Qantas House in downtown Auckland part-way through the lease period last year.

Northern Crest tried to counter that by claiming Jones' property company cost it more than $400,000 in audit and legal costs by seizing company documents from its subsidiary company Blue Chip Property Holdings and refusing access to them as it prepared its annual Companies Office returns.

Blue Chip was based on level 20 of Qantas House at the time.

But yesterday Associate Judge David Gendall ruled the connection that Northern Crest had tried to draw between the two claims was "illusory".

"I fail to see how the fact that the events in question occurred in the same building is of any relevance, as each claim revolves around different leases with different parties."

Gendall also said that contrary to later claims made by Blue Chip's Neil Bell it was Northern Crest's intention to "vacate the property" after it received notice from Robert Jones of its plan to cancel the lease.

"It was not until the present proceeding was issued that there has been any suggestion that Northern Crest did not abandon the premises in August 2008."

Gendall ordered Northern Crest to pay Robert Jones $268,773.96 for loss of rental income from October 1 last year to September 14 this year, rates costs of $14,056.95, cleaning costs of $2126 and interest costs of $2126.

Northern Crest was also ordered to pay up for legal costs, future damages from September 14 onwards, "make-good" redecoration and interest on the amounts claimed, although exact amounts have yet to be set.

Northern Crest (formerly Blue Chip Financial Solutions) survived a liquidation bid by the Registrar of Companies three months ago.

Last month Bryers pleaded guilty to three charges related to the collapse of the Blue Chip group and has pleaded not guilty to 69 criminal charges.

The High Court has ordered Mark Bryers to pay a $4.3 million debt to businessman Peter Francis.

The debt related to a term loan agreement Bryers entered into in November 2007, via holding company Marcroft, now in liquidation.

Associate Judge David Abbott told the High Court at Auckland that no grounds existed on which Bryers could appeal against his summary judgment.

He ordered Bryers to repay investment firm AD102 the original $2.47 million principal lent to Marcroft plus interest and exit fees.

- ADDITIONAL REPORTING: NZPA