Lundy trial: Witness denies deal on vineyard

Details of Mark Lundy's financial difficulties were revealed in the High Court at Wellington today. Photo / Mark Mitchell

A potential investor whom murder accused Mark Lundy was relying on to invest in his vineyard plans has told a court she was never in a position to invest in the company.

The woman, who has name suppression, was one of a number of witnesses who gave evidence at the High Court in Wellington. Lundy is on trial for the murder of his wife Christine and 7-year-old daughter Amber on August 30, 2000.

One of Lundy's business partners, who also has name suppression, told the court Lundy was having trouble raising money from investors to buy the property, worth $1.2 million.

He said he had contacted a family friend in the United Kingdom who said she could invest 500,000.

However, the woman said while she had been interested in an investment, she had not given an amount she could invest.

The owners of the two plots, Christopher Morrison and Douglas Twigg, told the court the sale went unconditional in early 2000, but Lundy failed to meet deadlines for settlement.

The final deadline given to Lundy was August 30, 2000 - the day his wife and daughter were found dead.

Meanwhile, Tower Insurance employee Bruce Parsons told the court it was his idea for the couple to increase their life insurance from $200,000 to $1 million each, in light of the proposed vineyard venture.

However, the couple decided the premiums were too expensive so decided on increasing their insurance to $500,000 each.

Defence lawyer David Hislop confirmed with Mr Parsons that the review of the couple's life insurance was at his instigation. Mrs Lundy died before the policy had come into effect, meaning the policy for her was worth $200,000, he said.

He told the court that he had not been asked to push the policy by Lundy.

Earlier the court was told Lundy and his wife's company was in debt by about $100,000.

Day six details

• Lundy's kitchen sink distribution business was in a constant debt of about $100,000.

• Supplier says Lundy told him he would use part of his wife's life insurance money to help pay off the debt.

• A potential major investor denied she was ever going to invest £500,000 in vineyard.

• An insurance employee said it was his idea to increase the Lundys' life insurance to $1 million each.