Property not bought for Tua alone, court told

David Tua outside Auckland High Court. Picture / Kenny Rodger

Boxer David Tua's former manager Kevin Barry told a court today there was no way a valuable bit of coastal land had been bought solely for Tua.

Barry told the High Court in Auckland today he owned 25 per cent of Tua's company Tuaman Inc Ltd and therefore owned 25 per cent of a multi-million dollar property bought through the company at Pakiri, north of Auckland.

Tua is claiming in court he owns the property alone and it was only bought through the company for tax reasons.

However, Barry told the court today the property had always been bought for the company and not for Tua alone and Tua and business manager Martin Pugh often discussed what a good investment it was.

"It is just not credible that the Tuaman Inc property would have been bought for David alone," Barry said.

"There is no way the company has purchased the Pakiri property on trust for David Tua alone, but if it (somehow) has then that is without my consent as 25 per cent shareholder and using my investment in the company without my consent.

"Having said this I am 100 per cent sure that is not the case. The Pakiri property was purchased by the company (Tuaman Inc Ltd) and that is what I agreed to.

"There has never been a statement that it is David's property alone," Barry said.

The hearing is expected to last the rest of this week.

- NZPA