Australian promoter claims he had to pay Terry Wilson’s bill. Tony Wall reports. A U2 CONCERT promoter believes a businessman who was grilled in the High Court last week can explain what happened to almost $1 million of profits from the Irish supergroup’s New Zealand shows.
Businessman Terry Wilson was subpoenaed to appear in the Auckland court to answer questions from a lawyer for Australian promoter Michael Coppel Presents, which says it is owed about $1m by a corporate hospitality company that hosted 4200 guests at U2’s two Auckland shows in November.
The company, Corporate Host Event Management, now in liquidation, paid $576,000 for concert tickets in January last year - building corporate packages around them, including food and drink in a large marquee behind Auckland’s Mt Smart stadium before the concerts.
It is alleged the packages earned the company millions of dollars, but none of the suppliers were paid, and Coppel had to step in to ensure they, and the band, received their money.
Another hospitality company Wilson was involved with, Capital Events, is also being chased by debtors, including the New Zealand Rugby Union, which says it is owed more than $700,000 for tickets and hospitality packages for last year’s domestic All Black tests.
Wilson, a former senior tax manager with Ernst and Young who described himself in court as unemployed, was in business with another former Ernst and Young man, Remuera millionaire Andrew Tauber. Tauber is the business partner of Dragon’s Den star Paul Webb.
Lawyer Alan Sorrell questioned Wilson, former co-owner of Corporate Host and Capital Events, about money apparently transferred between companies and a deal to offload companies to a South Auckland publican, Peter Morgan.
Morgan was a discharged bankrupt at the time and was again declared bankrupt last December.
Wilson and Tauber own the Jolly Farmer, where Morgan is based.
In October last year, a month before the concerts, all shares in Capital Events Holdings were transferred to Morgan, who paid $1 for them.
Wilson said in court the business had previously been propped up by Tauber, and it was sold to Morgan so Wilson could "exit the business".
Sorrell asked: "Was the reason you resigned from Capital Events, transferred the shares to Peter Morgan and changed its name, that the company was about to fail?"
Wilson: "No, I don’t think that was the reason."
Sorrell pointed out that as of last December, there was no money left in any Capital Events bank accounts.
Sorrell: "Where’s it gone?"
Wilson: "I was removed from having any access to the bank accounts prior to leaving for a trip to India (in early December). I don’t know, I’d have to refer to the bank statements."
Questioned about Corporate Host, the company that dealt with the U2 packages, Wilson confirmed all shares in its parent company were also transferred to Morgan for $1 in January last year.
"I no longer required the company, it wasn’t doing anything," Wilson said.
Asked about the U2 packages, Wilson said he was not directly involved and did not know how much was supposed to be returned to Coppel. Sales were handled by the company’s manager John Culpitt.
Sorrell: "In December, 2005, you were making so many sales of (U2) packages you had to go into the office and help?"
Wilson: "Yes… one day I went in to help… with credit cards."
Sorrell: "So apart from paying for the tickets, what did you do with the cash?"
Wilson: "I didn’t do anything with the cash."
Wilson said it was possible money had been transferred by him by way of advance to other companies in his group.
Sorrell: "Did you pocket any of the receipts for the U2 hospitality packages?"
Wilson: "No."
The hearing was adjourned so attempts could be made to obtain further accounts, business records and bank statements of the companies involved, which Wilson said were held at Tauber and Webb’s Honk Group offices.
- Sunday Star Times
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