Judge freezes Barry's cash

By PHIL TAYLOR

The proceeds from the sale of boxing coach Kevin Barry's house are among assets frozen in orders by the High Court in Auckland yesterday.

Barry is understood to have sold his Green Bay, Auckland, home in the past few weeks. He left for the United States this month and intends to work as a boxing trainer, based in Las Vegas.

He has said that the fallout with David Tua, whom he managed with Martin Pugh, had ruined his reputation in New Zealand and he had no choice but to leave.

The orders issued yesterday by Justice Hugh Williams were requested by Tua's lawyers. The orders also freeze the proceeds from the sale of a Birkenhead property with which Pugh is associated.

The property sold for $1.095 million and was transferred to new owners last month.

Barry's house was owned by the Barry Family Trust, of which Pugh is a trustee, and was valued in 1998 at $270,000.

Justice Williams also issued a disclosure order relating to an allegation that Pugh asked a friend to take money overseas and place it in a bank account. The court ordered the friend to make a declaration about this.

A request for an order that Pugh and Barry provide a list of all their financial interests and their whereabouts was rejected. Luke Kemp, who represents Tua, said the orders were to try to stop money from going out of the country before the main court case between Tua and his former managers is heard.

At the court's direction, three versions of accounts covering the past five years of Tuaman Inc have been prepared. Pugh and Barry are shown as owing Tuaman Inc between $2 million and $2.4 million in all versions.

Version two, done on the basis that Tua owns a large block of coastal Pakiri land and his inner-city apartment, shows Tua owing Tuaman Inc $3.587 million.

In the other two versions, in which Tuaman Inc is treated as owning those properties, the company owes Tua $1.731 million.

Tua has caveats preventing the sale of those properties and the Takapuna home of Pugh's de facto wife, Sally Cross. The Takapuna property, which has been extensively renovated, is for sale for $5.5 million but cannot be sold until the main dispute has been settled.

The court rejected this month an application by Cross and Pugh for the removal of the caveat on the Takapuna property.

Justice Geoffrey Venning ruled that money belonging to the boxer had been mixed with funds of Tuaman Inc and money from this mixed pool was applied by Pugh to the renovations.