Jones wants $800,000 compo

Property investor Sir Robert Jones is seeking up to $800,000 for hurt suffered over a critical article which suggested he had inflated his investment company's assets to increase his management fee, a court was told yesterday.

The High Court at Wellington is hearing a defamation case taken by Sir Robert against the article's author, Kapiti Coast investment adviser Chris Lee.

Sir Robert's lawyer, Michael Reed, QC, said his client was deeply hurt by the article, published in the Wellington community paper City Life in 2007.

"The article goes to the heart of Sir Robert's business ethics."

Mr Lee's lawyer, Matthew McClelland, said it was up to the jury to decide whether the meaning of the words in the context of the article were defamatory.

To be defamatory, the article would have had to lower Sir Robert's reputation in the eyes of others or discourage others from interacting with him.

But Mr McClelland said: "There's no evidence of any harm that has been done to him."

Mr Reed said the context of the article suggested Sir Robert had ripped off shareholders, which led to him becoming rich. "It suggests he's a bit of a shit, doesn't it?"

The case is expected to finish today.