Acting Business Editor for the NZ Herald

Ex-Ports of Auckland manager's assets frozen

Ports of Auckland says it has taken action to "protect its interests". Photo / Richard Robinson
Ports of Auckland says it has taken action to "protect its interests". Photo / Richard Robinson

A judge has frozen bank accounts and the $1.8 million property of a former Ports of Auckland manager.

The port company successfully obtained freezing orders against Paul Wayne Bainbridge on September 9.

Bainbridge, the High Court at Auckland heard this morning, recently resigned from a "managerial position" at the port.

Bainbridge and his former wife Margaret Anderson, during a hearing this morning, asked Justice Patricia Courtney to vary the freezing orders so they can access two of the frozen bank accounts to pay for living expenses.

Justice Courtney granted this request. She allowed Bainbridge to draw down $4000 a month and Anderson to draw down $10,000 a month.

The pair are no longer living together, the court heard.

Anderson and the former couple's three children live at the $1.8m Greenlane property caught by the freezing orders.

The property is held in a family trust.

Bainbridge's lawyer said his client was currently living in a Waitakere rest home with his parents.

The nature of Ports of Auckland's claim against Bainbridge was not canvassed in court.

Justice Courtney, however, said the value of claim was for "less than $400,000".

A spokesman for Ports of Auckland said the company had conducted an internal investigation and taken action to protect its interests.

He could not comment further.

- NZ Herald

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