2 April 2019  
President's Message
member photo

We had a great turnout of 48 members & guests who came to hear Brian Mayo-Smith speak with us about the Mainzeal liquidators litigation against the Directors. It was an insightful talk where Brian first provided an overview about the case including the relationship between Mainzeal and Richina - the history & internal practices of inter-company loans, letters of credit and poor financial performance.

Brian shared his perspective on why this sort of issue tends to happen in the building industry. He said the New Zealand building industry faces challenges in both financial (being able to finance the projects they commit to) and human (not enough skills and talent and therefore the need to outsource to subcontractors) resources. A possible solution to governing building finances is for a 3rd party to manage the total funds collected which then distributes proportionately to the main contractor and subcontractors rather than allowing the main contractor (as in the case of Mainzeal) to have total management of the funds. 

Brian finished his talk with some advice to current and future directors regarding their obligations: 1) understand your responsibilities under the Company Act (1993) and don't be persuaded to believe that any internal company policy can override your legal obligation under the Act (which states it is the responsibility of the Director to act in good faith and best interest of the company); 2) while it's important to work well with the Directors of the board you join, make sure you trust their ethics & integrity and not be persuaded by charisma alone. 

Our 5 minute speaker Rob Wills shared with us a selection of photos from his recent African adventure to Botswana, Okavango Delta and South Africa. Rob gave credit to his lovely wife Joanne for her excellent eye in capturing some of the fascinating shots of the elephants, lions, impalas and other wildlife, while providing pithy commentary. I don't know about you- but Botswana has now earned a place on my bucket list! 

Thanks to everyone who participated in last weeks "group brainstorming session." We had a lot of good feedback and suggestions which we will use in our 28th May meeting where we will plan out the activities for the new Rotary year starting in July. I will email members the consolidated output and some pre-read materials so we can make our time together on the 28th productive. Stay tuned for more info.  

Greg Walker, Chair of our Club Trust has an article in the "Stories" section below which provides everyone with an overview of the Trust and an update on how the funds from Mal's Challenge will be managed.  

Today was Karyn Spencer's last day at our Club. Karyn is moving to Sydney to start a new chapter in her life. While her time with us at Downtown was short, we will miss her and wish her well. 

Next week our speaker is Sir Don Mckinnon (former Deputy Prime Minister, Foreign Minister and Nobel Prize nominee). His talk is titled "An Uncertain World". More details about his background are listed on the website. Please make sure to register your attendance and come hear him speak. If you are having any challenges with registration, please contact Graham or me. Today we had 13 non registered attendees which put a strain on the catering team. Your help is appreciated.

Have a wonderful week & see you next Tuesday!

Lucy

Stories
Update on our Club's Charitable Trust
As you are aware from last week’s bulletin, as a result of the generosity of Mal McLennan and other members of the club, we have been able to increase to the Trust capital by $102,500, whereby now stands at approximately $220,000.
 
As was advised at the Club’s AGM last December, the Trustees have resolved to undertake investment of the capital with the aim of increasing both income and capital growth.
 
The first initiative being a loan of of NZ$25,000 to SPBD Singapore to be on lent as micro-financing for particular purposes to individuals in the Pacific Islands, expected to be in Fiji. The loan will be for a period of 3 years with an interest rate of 6%. The Trustees have received confirmation that the Trust’s tax free Charitable Status is not exposed by the making of the loan outside New Zealand.
The Trustees are in process of completing the loan documentation with the intention that the loan be advanced within the next month.
 
The Trustees are cognisant of the need to diversity investments other than through the SPBD loan and bank term deposits and to seek capital growth of the Trust fund. Representatives of the Trust have met with a Fund investment advisor and the Trustees have resolved to invest up to N$100,000 in a diversified income fund being a conservative fund managed through the investment advisors firm. These funds can be redeemed on short notice.
 
The Trustees are in the process of completing all documentation and expect the initial investment to be made within he next month with funds to be invested as term deposits mature.
 
As to the balance of capital, being approximately $95,000 the Trustees will be arranging for this sum to be initially placed on term deposit while they consider it’s appropriate investment but ensuring diversification of the Trust’s investments.
Save The Date- CHANGEOVER PARTY Saturday 29th June
Save the Date for our Changeover Evening - Canapes and Drinks (by Urban Gourmet) on Saturday,  29th June.
 
Location: Fale Pasifika (University of Auckland City Campus), 20-26 Wynyard Street, Auckland Central 1010
Time: 5:00- 7:30pm  
Cost: $50 per person
 
More information to come out soon.
Read more...
Cooking for a Cause - RMH 12 March Update
RMHC Cook Nite - 14 members and friends prepared meals for families staying at the Ronald McDonald House and served approximately 100 meals. It was a great turnout and wonderful atmosphere. Thanks to our members and friends:  Jan Malcolm, James PFL, Gareth & Kat, Pam & Alan Deal & their exchange student, Suzanne O'Leary and her two sons & friend, Frankie, Celia & Liz Thomson.
 
Read more...
Sending Our Support to Christchurch Families 
Three Rotary Clubs in the Christchurch District have sent out an email appeal to Rotary Clubs throughout NZ to help raise funds to support the families and survivors of the Christchurch tragedy. Together we send to the families, our thoughts and wishes of strength to overcome their deep grief. United we stand in our belief that all people have the right to live free from violence and prejudice. 
Our Club members have donated this week's sargent's session and a matching amount from our Club's Sunshine Fund, totalling $1605.
Let us continue to build bridges of cultural understanding and tolerance.
Read more...
News
SAVE THE DATE - Battle of the Suits
Our club has established what we hope to be the first of a series of annual debates between two established law firms.
The purpose of this event is to raise funds for the charitable causes supported by our Club. In the first year, the primary cause will be Auckland City Mission, with the balance of the funds going to the other
charitable causes supported by our Club. Funds will be raised from ticket sales, auction items sourced by the Club and a raffle. 
 
 
 
Read more...
Calling for volunteers to help interview RYLA candidates 
Every year our Club has sent a number of well deserving young adults to RYLA (Rotary Youth Leadership Awards). We need volunteer interviewers to help with the selection process. Please contact Suzanne O’Leary for more information.
Read more...
Women in Rotary Event - 6th April Fun Run
To celebrate 30 years of “Woman in Rotary”, D9910 & D9920 invite you to a “Fun 5km Walk” around Wynyard Quarter & Westhaven area on Saturday 6th April. (Rain, hail or shine, we are doing this……)
 
We will gather from 9am for a 9.30am start, at Wynyard Quarter Playground (Jellicoe Rd). Please note we will start & finish at the same spot for ease of parking. Gold coin donation for all attending, going to Polio Plus campaign.
 
As we want to promote Rotary, please wear Rotary branded t-shirts and/or caps. We have a limited quantity of new, bright lime green “Woman in Rotary” t-shirts for a $10 donation (Polio Plus for D9920). First in, first served for the current allocation, so pre order via e-mail to Leanne. Note t-shirt sizing on the small side, so it is recommended to go up one from your usual size (S,M,L,XL,2XL available).
 
Afterwards, head home to continue your day, or stop for a well-deserved coffee or something stronger. Lots of great cafes & restaurants around the immediate area. Register interest via e-mail to Leanne leanne@searlegroup.co.nz On registration, we will send you a map of the walk with additional information for the event.
Read more...
Meeting Responsibilities
Reception
 
Team Lead
Loesser, Susanne
 
Team member
Downey, Kerryn
 
Team member
Dyer, Wayne
 
Speaker
 
Introducer/host
Rowe, Stuart
 
Thanker
Jenkins, Mark
 
Upcoming Speakers
Apr 02, 2019
Mainzeal's Liquidators litigation against the Directors
Apr 09, 2019
An Uncertain World
Apr 16, 2019
Bridging Gaps to Create Inclusive Societies - how Fair Pay Agreements can Help
Apr 23, 2019
View entire list
Upcoming Events
Downtown Rotary meeting - 2 April 2019
The Northern Club
Apr 02, 2019
7:10 AM – 8:40 AM
 
This Saturday - Working Bee - Greg Moyle’s Farm
220 State Highway 27, Mangatarata
Apr 06, 2019
11:00 AM – 3:00 PM
 
Food Parcel Packing - Auckland City Mission
City Mission Distribution Centre
Apr 24, 2019
10:00 AM – 3:00 PM
 
Feeding the Homeless - Auckland City Mission
Haeata Community Centre
May 03, 2019
11:00 AM – 3:00 PM
 
District Conference 2019
Napier
May 10, 2019 12:00 PM –
May 12, 2019 12:00 PM
 
Cooking School with Karen Hally
8 Burwood Cres, Remuera
May 21, 2019
7:00 PM – 9:30 PM
 
Feeding the Homeless - Auckland City Mission
Haeata Community Centre
Jun 12, 2019
11:00 AM – 3:00 PM
 
SAVE THE DATE - Battle of the Suits
Cordis Hotel
Aug 13, 2019
6:30 PM – 11:00 PM
 
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