Saturday, May 05, 2012

Trinity Roots vs taxman

Photo: NZ Musician/Sarah Hunter

The Dominion Posts reports that Trinity Roots owe the taxman $100,000.

"Liquidators appointed this month have assumed control of Trinity Roots Ltd's finances, but say it has virtually no assets and any unsecured creditors are unlikely to be repaid.

The company's listed directors are founding members Rio Hemopo and Warren Maxwell. Maxwell also played with Fat Freddy's Drop and is the front man of Little Bushman.

Former members Riki Gooch and Darren Mathiassen are listed as former directors.

The band was formed in 1998 but disbanded in 2005. [They reformed in 2010, but original drummer Riki Gooch departed soon after and was replaced by Jean Pompey in mid 2011.]

Trinity Roots Ltd was fined $1560 in 2006 for 22 charges of failing to file tax and GST returns over three years. Its lawyer at the time told the court the returns had simply been overlooked.

Liquidator Paul Bartley said yesterday at least part of the current debt – totalling $99,140.59 in unpaid taxes and penalties – was linked to the historic charges.

Trinity Roots' co-manager Ange Kalogeropoulos – Maxwell's partner – said the financial troubles had a long history.

"It all [harks] back to when they were originally all together. The management they had completely failed them in the end.

Ms Kalogeropoulos said the tax debt was not the reason the band broke up.

"But after they did break up there were a lot of things that came to light that had been going on that the guys were completely oblivious to. In a business sense, they were directors of that company, they were responsible in that regard."

She declined to name the band's previous managers...."

A quick search reveals the band's manager prior to the 2005 split was Toby Larmer, who also managed Hollie Smith, Kora, Cornerstone Roots, and Phoenix Foundation. 

Sam Scott of the Phoenix Foundation, told me via Twitter that their manager at that time was  "Way too casual. [he was] disorganised, not into the details. Awesome dude though, being a bad accountant doesn't mean you're a dick."

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