Tepaki to seek over $60 million in lost earnings, damages

Developer Tim Tepaki advised the Herald on Tuesday evening that he had e-mailed eight relevant parties on Tuesday afternoon concerning legal action he was intending to take over the placement into receivership recently of three of his companies and other matters.
Tepaki has informed the parties that he intends to file court documents on Thursday Cook Islands time.
Tepaki said he has informed the parties he will seek to claim over $60 million which includes lost earnings ($33.6 million), general damages ($5 million) and aggravated damages ($15 million).
Among the eight parties contacted are his former bankers, Strategic Finance who themselves went into receivership ,Price Waterhouse Coopers receivers and Rarotonga Resorts Management Ltd.

By Charles Pitt

Herald Issue 463 10 June
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