Rudd has denied threatening to kill anyone.
The business associate referred to in the summary was originally named in court documents as the intended "hitman" on the charge that was dropped.
He said Rudd offered him $250,000 and "the pick" of any of his expensive cars, to be his bodyguard - it was not a payment for what police allege Rudd "wanted done".
Rudd spent at least $9million on his supercar collection that includes Lamborghinis, Ferraris and Bentleys that are kept securely in a hangar at the Mount Maunganui airfield.
The man said Rudd was a good fella" and the matter had been blown out of proportion as the famous drummer may have been blowing "hot air".
However, the Mount Maunganui man, whose young daughter was also allegedly threatened, took the alleged threat seriously enough to lay a complaint with the police.
He declined to comment this week: "I have to think of my family and that will always come first".
Another man, named as a second intended target in the withdrawn charge, is likely to be called as a witness in the threatening to kill prosecution.
Suppressions protect the identity of all three men.
Rudd remains on bail at his waterfront mansion - two separate titles he bought for a total of $4.9million - with windows blacked out by promotional posters for his solo album and security guards posted out front.
He is due back in the Tauranga District Court in February for a case-review hearing on charges of threatening to kill, possession of 130 grams of cannabis and 0.7g of methamphetamine.
Rudd plans to deny the criminal offences and the case is likely to be heard in a judge-alone trial. Weekend Herald