By Martin Van Beynen From stuff.co.nz

Prominent Christchurch rebuild figure Victor Cattermole says he is leaving the city and the country because of continued challenges to his credibility.

After being questioned about his latest business ventures, Cattermole said, “Screw NZ.”

“I’m going to pack up all my business and I’ll move away. I’m not going to invest any more time, money, create any jobs or invest in this country … I’ve had a gutsful of people like you.”

The attitude of the city was a “sad, sad indictment of what used to be a great country”, he said.

Cattermole is a Christchurch businessman who stood for mayor. His past includes clashes with the Securities Commission, a $50 million company collapse and a failed $400m bid to buy Portsmouth Football Club in England.

He was a director of Consumer Advocates Ltd, which posted online warnings about Earthquake Commission staff and procedures.

Cattermole’s latest venture is a company called Vault Compliance Systems NZ Ltd (Vault-NZ) which, on its website, lists a ambitious goals including “establishing Vault sales and support in 100 countries by 2019”.

The 500,000 shares in the company are owned by a similarly named entity Vault Compliance Systems Ltd (Vault Cayman), which is registered in the Cayman Islands. The office is based in a Hong Kong high rise.

Cattermole said it would be “unprofessional” to discuss his Hong Kong-based parent Vault-Cayman, saying he was just representing it in New Zealand.

The company could be talked to itself for more information, he said. Calls to the Hong Kong office went to an answerphone. On the last attempt a Hong Kong receptionist was asked to transfer the call to the company’s manager.

The call was answered by Cattermole in Christchurch.

“I’m not talking to you any more,” he said.

Vault NZ’s website claims that it was “born out of NGB Industries the development company of ‘Vault’ GRC solution. So our DNA comes from the best of Risk Management that has been developed through military experience and market hardened supply of the Vault.”

However, Vault GRC is an unrelated Christchurch company that has been in business since 2006 supplying software to help businesses manage compliance and risk issues.

It is owned by Australian company NGB Industries Ltd.

Vault GRC chief executive David Moylan said Cattermole’s company was granted a distributorship of the Vault software product in New Zealand and Australia about 12 months ago and Cattermole would supply software and support.

Cattermole had not sold a single Vault system, he said.

Cattermole said his Vault companies were involved in providing risk management systems.

Vault Cayman was being prepared for listing on the Hong Kong stock exchange.

“Within next six months I’ll be moving to UK or Europe or America, to help with business they are doing there.”

His New Zealand business employed about eight people and he needed another 30.

Cattermole, through his company Christchurch Residential Rentals, is also embroiled in a dispute about 17 Christchurch houses owned by businesswoman Linda Mary Stanton.

He claimed he had paid Stanton $1.8m and that she had not completed the transaction. He could not discuss the dispute because it was the subject of High Court proceedings.

Stanton could not be contacted.

VICTOR CATTERMOLE
– In 2012 returns to Christchurch to help other Cantabrians.
– Director of Vault Compliance Systems NZ Ltd and many other companies.
– Involved in Consumer Advocates Ltd, an online group criticising the Earthquake Commission.
– Worked for some time with advocacy firm Earthquake Services.
– In 2010 tries to put together multi-million rescue package for Portsmouth football club but fails.
– In 2005 connected with collapse of entities tied up with Endeavour Plan investments. $50m was missing.
– Found guilty in Christchurch District Court on two charges of unlawfully using documents.
– In 2003 the Securities Commission banned advertising of investment scheme offered by Endeavour Portfolio Corporation, founded by Cattermole and registered in the West Indies.
– In 1995 the High Court ordered Cattermole to move out of the priest’s flat at Erskine College in Wellington after he signed a contract to buy the school but did not pay.

IMAGE: Victor Cattermole

For more on this story go to: http://www.stuff.co.nz/the-press/news/67508626/Cattermole-set-to-quit-NZ-over-challenges