By MONIQUE DEVEREUX
Hamilton's $30 million dual sports stadium project has hit another stumbling block. Its governing trust is facing liquidation.
Redman Advertising and Marketing has filed papers in the High Court at Hamilton seeking to place the Waikato Stadium Trust in liquidation over a 12-month-old bill.
The High Court said yesterday that
the papers had yet to be served on the trust.
It is the latest in a series of problems with the stadium. Last year, the original plans were ditched and three trustees quit after a budget blowout. Then the Tainui tribe withdrew its $7 million naming rights pledge.
Redman Advertising is understood to be owed $70,000 for work done over the past two years.
The company, which was sold last year, was owned by Michael Redman, who was one of the three original trustees who resigned in November. He was reluctant yesterday to speak about the proceedings, but said the company was still trying to recover the debt.
He said he sincerely hoped the matter would not go as far as liquidation, and would not confirm the amount owed.
Last night, trust chairman David Braithwaite said he was not aware of the court proceedings and did not know what would happen to the stadium proposal or the trust if the liquidation went ahead.
He said paying Redman Advertising the money owed before the court proceedings was "a possibility" but, asked if the trust would have the funds, he replied: "I'm not prepared to comment on that."
Last week, the trust presented its latest proposal - a big upgrade at Rugby Park and a $2.5 million refurbishment of Hamilton's cricket ground, WestpacTrust Park.
If it goes ahead, the facilities should attract All Black tests and international day-night cricket games to Hamilton.
But finance hinges on approval of the plans by the trust's three main backers - Hamilton City Council, WEL Energy Trust and Trust Waikato - which will provide a total of $21 million.
