KEY POINTS:
A couple who invested with Blue Chip are upset at being pursued for tax.
Maureen and Rod Sudlow of Mangonui say a tax problem is adding misery to their situation, after they lost money investing in a Henderson house.
"We were one of the small investors caught up in the Blue Chip collapse. We have already lost thousands of dollars of our savings and been forced to sell our Auckland property at a loss in order to repay our mortgage," Mrs Sudlow said.
Rod Sudlow said they had taken a loss of about $10,000 on the Henderson house they bought through Blue Chip.
Last week, Inland Revenue wrote saying they owed tax, but they want IRD to make demands on Blue Chip liquidator Melzter Mason Heath.
"We received a letter from the tax department telling us that they are now going to charge us tax on alteration compensation payments that we were advised by Blue Chip were exempt," said Mrs Sudlow.
"Because this was a choice made by Blue Chip which they said in a later letter that they would cover for us, then I believe that the tax department should be going to the liquidators.
"It seems gross that people like ourselves, who have already lost their savings, should be hit with further costs by the Government."
Tax experts said this year that Blue Chip's tax policies were highly questionable.
Professionals at Staples Rodway and Ernst & Young said investors should be careful.
In a separate development, more Blue Chip companies went under late last month. Blue Chip Bay of Plenty, Blue Chip Bay of Plenty 2006, Blue Chip Botany Downs and Blue Chip Rotorua are all in liquidation.
The companies are owned by Mark Bryers' sister Lynda Rewita and her husband, Mike, of Tauranga.
MORE MISERY
* 26 Blue Chip companies are in liquidation.
* Four new liquidations were made last month.
* These are Bay of Plenty and Rotorua entities.
* About 2000 investors bought around 3000 properties.
* They are claiming more than $80 million.
