Liquidators BDO Tauranga were appointed on August 29, and receivers Waterstone Insolvency were appointed on September 2.
The retiree, who spoke on condition of anonymity, first spoke to the Bay of Plenty Times last December.
She said at the time that she met with Hollis on August 22 and agreed to sell the solid gold five-ounce ABC bar for $26,390. But payment was not received on September 8 as agreed, she said.
The retiree said she lodged a theft complaint with the police in late September, but was told it appeared to be a civil matter.
The retiree told the Bay of Plenty Times this week that she believed the bar was now worth nearly $40,000. That figure was based on Monday’s New Zealand gold prices.
She said she had hired a lawyer and spent about $10,000 in legal fees, and was determined to recover the gold.
The retiree said she had regularly emailed the police after filing a complaint and did so again after obtaining legal advice. She provided further documentation and another written statement to support her complaint.
She said that she had repeatedly tried to contact Hollis before filing the police complaint.
She had also earlier contacted the liquidators, BDO Tauranga, and receivers Waterstone Insolvency to discuss the whereabouts of her missing gold.
The retiree said Waterstone had compiled an inventory list of seized assets. This included photographs of some items.
However, she said that while the list referred to her gold bar and noted a sales holding period, there was no photograph and alongside her name were the words NZ Gold Merchants.
“This suggests to me that the gold bar is now in the possession of NZ Gold Merchants, or it was sold to them before the 14‑day holding period expired.”
Under the Secondhand Dealers and Pawnbrokers Act 2004, gold dealers cannot melt down, sell or alter any precious metal item for two weeks after acquiring it.
The 14-day hold is designed to allow the police to track stolen items, including gold and jewellery.
She said her lawyer advised that the gold bar appeared to have been sold to NZ Gold Merchants, and if the gold was on-sold to another gold company, they may have bought it in good faith.
“If that was the case, I’m told I still retain ownership rights and Guardians of Gold is responsible for restoring my position, either by returning equivalent gold or compensating me for the full value.
“I feel let down by all the laws that apply to these matters, and no one seems to be on my side or can tell me where my gold bar is, especially given how much gold prices have risen since August.”
The retiree said she was determined to “fight on” to get answers and pursue the return of her gold or to be paid what she believed she was owed.
She said she met with Tauranga police detective Tony Lin on April 26 to discuss her complaint.
Lin refused to comment when contacted by the Bay of Plenty Times.
Guardians of Gold, which earlier had a Tauranga office at Unit 3/162 Durham St, has been put into voluntary liquidation and receivership. Photo / Sandra Conchie
Hollis’ statement also said: “There are live factual and legal issues that require proper verification before any conclusions can safely be drawn.
“Those issues include business records, receivership/liquidation material, third-party handling of assets, IRD-related enforcement matters, and the documentary basis for any allegation being made.
“Mr Hollis’ position is that the matter should not be determined through selective public allegations or inference.”
The statement said that a forensic review was being undertaken, and further formal information requests were also being pursued so the complete record could be identified and assessed.
“It is also noted that IRD has sought an adjournment in related proceedings.
“In that context, it would be inappropriate and potentially prejudicial to comment further on disputed matters while relevant records and legal issues remain outstanding. Mr Hollis reserves all rights.”
Tony Coleman, managing director of NZ Gold Merchants Ltd.
NZ Gold Merchants managing director Tony Coleman said this was a “difficult situation”, and the company felt “very sorry” for the complainant’s position.
“Our understanding is … Guardians of Gold were placed into liquidation, and we were subsequently contacted by the liquidators and asked to provide information relating to recent purchases and sales involving Guardians of Gold.
“We were also instructed to set aside any incoming or outgoing precious metals that may have been tagged to Guardians of Gold Limited. We have complied with these requests.”
Coleman said all relevant products were held in NZ Gold Merchants’ vaults.
The company was awaiting the outcome of the legal process that would determine what happens to these assets, he said.
“Unfortunately, there are no identifying ownership marks on the gold, so we are unable to determine which assets may belong to whom. As a result, our hands are effectively tied at this stage, and we can only wait for the process to be concluded.”
Waterstone Insolvency has applied to the High Court at Tauranga for directions about the treatment and ownership of bullion inventory within Guardians of Gold possession at the time of the liquidation.
The retiree said she would attend the May 25 hearing with her lawyer.
According to the receivers, Mayfair Finance was owed $250,420 as of October 16, and the liquidators’ March 1 report revealed 45 unsecured creditor claims totalled an estimated $388,150.77.
Inland Revenue has filed a preferential claim for $33,861.33.
Sandra Conchie is a senior journalist at the Bay of Plenty Times and Rotorua Daily Post who has been a journalist for 25 years. She mainly covers police, court and other justice stories, as well as general news. She has been a Canon Media Awards regional/community ,porter of the year.