Sunk without a trace: man behind failed surf reef continues to elude liquidators (From Bournemouth Echo)
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Sunk without a trace: man behind failed surf reef continues to elude liquidators
4:00pm Sunday 20th October 2013 in News
The New Zealand arm of PricewaterhouseCoopers (PWC) has been dealing with the liquidation of ASR, which was based in the country.
It went into liquidation almost a year ago and in April the Daily Echo reported that director Nick Behunin could not be contacted by PWC.
Although Mr Behunin lists his location on Facebook as Venice, California, PWC’s latest update report, published on Monday says it has still not been able to reach him and it has also not yet had access to the company’s records.
Liquidator David Murray Blanchett said in the report: “Further to our last report, we remain unsuccessful in contacting the director Nick Behunin, whom we understand to be overseas.
“We also remain unsuccessful in contacting the major shareholder and holder of a general security agreement, Sealutions LLC, which we understand was operated by Nick Behunin.”
The report said it was “not practicable to estimate a completion date for the liquidation”.
Bournemouth Borough Council has confirmed that is it now a registered creditor of ASR.
Mark Smith, service director for tourism said: “The council has successfully reached an insurance settlement for the surf reef and so is now undertaking the necessary work to ensure the reef is safe for people to use.
“This is progressing well and the reef will form an integral part of the Coastal Activity Park, which is scheduled to open in Spring 2014.”
He said the park would appeal to “a wide range of people” and offer “an enhanced leisure amenity”.
The Echo has been unable to contact anyone from ASR via phone, e-mail or through its website, which is still live.
Bournemouth council’s Labour leader Cllr Ben Grower said: “Presumably he has sunk without a trace, just like the surf reef.
“As the surf reef does not appear in our new seafront strategy, the council has now just wiped it off the face of the earth.
“I expect the reef and Mr Behunin will never be seen again, leaving the people of Bournemouth with the bill of over £3million.”
See all our surf reef stories, background, videos and a timeline following the surf reef saga at bournemouthecho.co.uk/surf_reef
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