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Renshaw Edwards, Barristers & Solicitors, and related events.
History
History When part Renshaw was elected president of the Upper Hutt Chamber of Commerce in April 1983, he was 36, and a partner in de Joux and Ryan, Upper Hutt.
Renshaw, Edwards, Hurd and Paino had bought the 19-21 Main Street property in July 1983 and moved in on October 14, 1985.
In a widely-publicised March 21 Upper Hutt Chamber of Commerce and Industry annual general meeting, Prime Minister Geoffrey Palmer presented Patrick Renshaw with the Chamber's first Achievement Award, for his services as Medic-Alert trustees board member, honorary solicitor for the rugby club and Asthma Society of New Zealand; he was also a past president of the Chamber; picture in the April 3 'Leader'.
Lower Hutt solicitor Mike Basil-Jones had been in the partnership 'until recently' in February 1992.
On February 11, 1992 the 'Leader' announced that trust account funds had been frozen by the Wellington District Law Society, pending an investigation into a number of unauthorised investments involving 60 mortgages. The following 'Leader' announced that the Law Society had referred 'certain matters' to the Serious Fraud Office and the police. A Partnership Notice advertisement stated that the partnership of Renshaw Edwards, Barristers & Solicitors had been dissolved, and that the remining partners, Messieurs Keith Edwards, Paul Vincent Paino and John Corryn Gwylliam would continue as barristers and solicitors under the name Edwards Paino and Gwilliam.
Lower Hutt lawyers Gibson Sheat started placing prominent advertisements for their services on March 17.
By March 24 the 'Leader' could report that the total lending operation appeared to involve about $30 million and over 1000 investors (later revised to 680). Keith Edwards had also resigned after admitting he had gambled investors' money. John Gwilliam had set up at 107 Main Street, and Paul Paino at No. 108, and the Law Society was taking over.
Several other lawyers' advertising and the Public Trust's became more prominent.
Local lawyers had been offering free advice to Renshaw Edwards clients at the Citizens' Advice Bureau from noon to 2 and 5 to 6, and one of them, Peter Richardson, described the experience as 'pretty shattering' in the March 31 'Leader' which also reported that Malcolm Dunphy of Wellington had been appointed to manage the company's affairs; he had recruited Peter Macaulay to investigate the activities of the trust account and nominee company.
The March 31 'Leader' also re-printed a picture of Pat Renshaw taken exactly two years earlier, showing him with the Upper Hutt Chamber of Commerce and Industry's inaugural Achievement Award.
The April 7 'Leader' added misery; the Law Society would not pay out on any claims until the situation had clarified, as it was likely that funds would be insufficient to meet all judgements and claims. Pat Renshaw was facing 36 charges involving over $6 million, with extra charges involving $500 000 pending; Keith Edwards faced 17 charges related to $1.7 million, with another 42 charges related to $1.8 million pending. There were two columns of charges, in small print; Renshaw had mostly been drawing money from different funds to lend money to other parties; Edwards had been drawing money from W. Macaulay Ltd, representing the fifteen $100 000 or $200 000 cheques as loans to around a dozen different names.
The three April 7 'Law Week' pages made no mention of Renshaw Edwards. In an article, local M P Peter McCardle had had several discussions with the Minister of Justice about changes to the law on fidelity funds levied on lawyers, as the existing fund would probably be inadequate; but more could be drawn from future accumulations. The investors group called for the resignation of the Wellington Law Society's Judith Potter, who had argued that lawyers from other districts should not be expected to help meet the shortfall.
An investors' group committee had been elected around April 14 and would investigate hiring lawyers to cover a large group of investors.
In the last week of April Keith Edwards admitted seven charges of theft by failing to account, and 44 of theft by misappropriation, in the Auckland District Court; at the end of May he was sentenced to 6 years in jail.
The May 26, 1992 'Leader' reported that Patrick Renshaw had pleaded guilty to 42 charges with a total dollar value of $6 470 688 in the Wellington District Court. The transactions had taken place between September 1990 and January 1992. The article covered four columns, mostly a detailed account of the details of the offences, given by Serious Fraud Office's assistant prosecutor Ms Susan Pilgrim.
At the end of June all of Keith Edwards's and Patrick Renshaw's assets were frozen, on behalf of 190 former clients; claims of $15.5 million were lodged on their behalf. Renshaw's lawyer said any assets he had were mortgaged and the injunction might prove unnecessary.
On July 3, Patrick Renshaw was sentenced to seven years' jail. Chief Justice Sir Thomas Eichelbaum concurred that his case was the most serious defalcation by a solicitor to come before the Courts. The rest of the July 6 article mostly covered Renshaw's solicitor's counsel's explanations of the reasons for the offending.
Judith Potter, president of the New Zealand Law Society, spoke at an SCF luncheon; her personal view was that there was no longer a need for lawyers to be involved in lending money, as with a deregulated economy more money w as available. This case and some others had left the fidelity fund facing claims over $30 million for the last year, compared with $6.7 million over the previous six years. The article appeared on August 24; the same paper printed an advertisement for the sale by tender of the property on the corner of Main and Royal streets.
In late August a 6-hour meeting of creditors representing $17m of the $24m-$28m Renshaw Edwards debt voted tom make John Gewilliam, Paul Paino and Michael Basil-Jons insolvent but not bankrupt; the August 31 article said that the Recovery Group committee chairman Trev Griffin reported that those partners' assets amounted to $200 000; and also that five of the 197 members had died of heart attacks in the last year.
Labour Opposition leader Mike Moore said that the Law Society was seeking to have the fidelity fund wound up; his party would oppose any legislation which would exclude people affected by Renshaw Edwards from cover.
The October 12 'Leader' reported that the fidelity fund's legal advisor, Auckland barrister Stuart Ennor, said the creditors' group' claims would be dealt with next month, that very few would be unacceptable, and must be paid out before any future claims were.
The Renshaws' house and 10 acres in Akatarawa were sold at auction in late October.
In mid-November a $19 million claim by a couple who each owned 499 shares in Skybolt Developments, where Patrick Renshaw owned two, brought total claims past $50 million.
The December 21 'Leader' reported that some creditors who had lost under $1000 would get their money that week, as would seven whose trust funds had been frozen. Hardship cases would get $30 000. 2700 partners or lawyers in sole practice would be levied $10 000, payable over 5 years; this should enable the Law Society to meet 80 per cent of admitted claims. The investors support group chairperson, Mark Rammell was not happy about the way the Society made its decisions, including the 80% cap and five-year period. The group's lawyer questioned whether proposed law changes would prevent similar situations in future.
In the February 1, 1993 'Leader' Peter McCardle, M P was quoted as saying that he had investigated, and that talk of Patrick Renshaw operating a TAB account from prison was untrue.
February 13, 1995; the Law Society had taken out a $7.3 million loan, so as to comply with a High Court ruling that they must pay claims immediately. This would allow all agreed claims to be settled.
March 20, 1995; Patrick Renshaw had been released from Rimutaka Prison on March 15 and had already been on work pariole and weekend leave; most people interviewed on Main Street said he should still be in prison. His lawyer said he had no assets or property hidden away; he apologised to his former clients and investors and their families and to his family, and to the legal profession. He had been declared bankrupt, and owed Inland Revenue child-support payments, but had no means of payment.
March 27; letter from Patrick's father, Peter; criticising the way media had dealt with the release; talk-back radio, reporters, radio and TV waiting at Rimutaka Prison for him to emerge (he had already left).
Next week, two replies; one saying that the punishment had not fitted the crime, and the other describing the letter as patronising and sneering.
May 15; an Inside New Zealand TV documentary had Patrick Renshaw apologising; when asked why auditors had not picked up the situation, he said that they were being sued by the Law Society. Also interviewed; Mark Rammell of the investors' support group, and their lawyer, Grant Cameron; Austin Forbes, Law Society president; and local businessman Kevin Pepperell. The article was headed 'No pot of gold for anyone, says Renshaw'.
November 22; the Law Society was suing Renshaw Edwards's auditors, Clark Fitzgerald for $24.6 million; an earlier figure reported had been $4.2 million. The Society of Accountants no longer had a fidelity fund, after paying $12 million after an Auckland accountant's actions, and was not defending Mr Clark; and such a fund did not cover negligence.
1996
June 5; the Law Society had settled the long-standing claim against Clark Fitzgerald out of court; details were confidential. The partners were working separately in Upper Hutt.
The August 19, 2015 'Dominion Post' reported that Patrick Renshaw, now 68, and a tax adviser, had pleaded guilty to 42 aiding-and-abetting charges, resulting in a $144 968 shortfall in tax paid, with another $201 413 attempted; mostly related to PAYE deductions for employees of his own company; there had also been false GST returns for four companies and false tax returns for himself and one company
Renshaw, Edwards, Hurd and Paino had bought the 19-21 Main Street property in July 1983 and moved in on October 14, 1985.
In a widely-publicised March 21 Upper Hutt Chamber of Commerce and Industry annual general meeting, Prime Minister Geoffrey Palmer presented Patrick Renshaw with the Chamber's first Achievement Award, for his services as Medic-Alert trustees board member, honorary solicitor for the rugby club and Asthma Society of New Zealand; he was also a past president of the Chamber; picture in the April 3 'Leader'.
Lower Hutt solicitor Mike Basil-Jones had been in the partnership 'until recently' in February 1992.
On February 11, 1992 the 'Leader' announced that trust account funds had been frozen by the Wellington District Law Society, pending an investigation into a number of unauthorised investments involving 60 mortgages. The following 'Leader' announced that the Law Society had referred 'certain matters' to the Serious Fraud Office and the police. A Partnership Notice advertisement stated that the partnership of Renshaw Edwards, Barristers & Solicitors had been dissolved, and that the remining partners, Messieurs Keith Edwards, Paul Vincent Paino and John Corryn Gwylliam would continue as barristers and solicitors under the name Edwards Paino and Gwilliam.
Lower Hutt lawyers Gibson Sheat started placing prominent advertisements for their services on March 17.
By March 24 the 'Leader' could report that the total lending operation appeared to involve about $30 million and over 1000 investors (later revised to 680). Keith Edwards had also resigned after admitting he had gambled investors' money. John Gwilliam had set up at 107 Main Street, and Paul Paino at No. 108, and the Law Society was taking over.
Several other lawyers' advertising and the Public Trust's became more prominent.
Local lawyers had been offering free advice to Renshaw Edwards clients at the Citizens' Advice Bureau from noon to 2 and 5 to 6, and one of them, Peter Richardson, described the experience as 'pretty shattering' in the March 31 'Leader' which also reported that Malcolm Dunphy of Wellington had been appointed to manage the company's affairs; he had recruited Peter Macaulay to investigate the activities of the trust account and nominee company.
The March 31 'Leader' also re-printed a picture of Pat Renshaw taken exactly two years earlier, showing him with the Upper Hutt Chamber of Commerce and Industry's inaugural Achievement Award.
The April 7 'Leader' added misery; the Law Society would not pay out on any claims until the situation had clarified, as it was likely that funds would be insufficient to meet all judgements and claims. Pat Renshaw was facing 36 charges involving over $6 million, with extra charges involving $500 000 pending; Keith Edwards faced 17 charges related to $1.7 million, with another 42 charges related to $1.8 million pending. There were two columns of charges, in small print; Renshaw had mostly been drawing money from different funds to lend money to other parties; Edwards had been drawing money from W. Macaulay Ltd, representing the fifteen $100 000 or $200 000 cheques as loans to around a dozen different names.
The three April 7 'Law Week' pages made no mention of Renshaw Edwards. In an article, local M P Peter McCardle had had several discussions with the Minister of Justice about changes to the law on fidelity funds levied on lawyers, as the existing fund would probably be inadequate; but more could be drawn from future accumulations. The investors group called for the resignation of the Wellington Law Society's Judith Potter, who had argued that lawyers from other districts should not be expected to help meet the shortfall.
An investors' group committee had been elected around April 14 and would investigate hiring lawyers to cover a large group of investors.
In the last week of April Keith Edwards admitted seven charges of theft by failing to account, and 44 of theft by misappropriation, in the Auckland District Court; at the end of May he was sentenced to 6 years in jail.
The May 26, 1992 'Leader' reported that Patrick Renshaw had pleaded guilty to 42 charges with a total dollar value of $6 470 688 in the Wellington District Court. The transactions had taken place between September 1990 and January 1992. The article covered four columns, mostly a detailed account of the details of the offences, given by Serious Fraud Office's assistant prosecutor Ms Susan Pilgrim.
At the end of June all of Keith Edwards's and Patrick Renshaw's assets were frozen, on behalf of 190 former clients; claims of $15.5 million were lodged on their behalf. Renshaw's lawyer said any assets he had were mortgaged and the injunction might prove unnecessary.
On July 3, Patrick Renshaw was sentenced to seven years' jail. Chief Justice Sir Thomas Eichelbaum concurred that his case was the most serious defalcation by a solicitor to come before the Courts. The rest of the July 6 article mostly covered Renshaw's solicitor's counsel's explanations of the reasons for the offending.
Judith Potter, president of the New Zealand Law Society, spoke at an SCF luncheon; her personal view was that there was no longer a need for lawyers to be involved in lending money, as with a deregulated economy more money w as available. This case and some others had left the fidelity fund facing claims over $30 million for the last year, compared with $6.7 million over the previous six years. The article appeared on August 24; the same paper printed an advertisement for the sale by tender of the property on the corner of Main and Royal streets.
In late August a 6-hour meeting of creditors representing $17m of the $24m-$28m Renshaw Edwards debt voted tom make John Gewilliam, Paul Paino and Michael Basil-Jons insolvent but not bankrupt; the August 31 article said that the Recovery Group committee chairman Trev Griffin reported that those partners' assets amounted to $200 000; and also that five of the 197 members had died of heart attacks in the last year.
Labour Opposition leader Mike Moore said that the Law Society was seeking to have the fidelity fund wound up; his party would oppose any legislation which would exclude people affected by Renshaw Edwards from cover.
The October 12 'Leader' reported that the fidelity fund's legal advisor, Auckland barrister Stuart Ennor, said the creditors' group' claims would be dealt with next month, that very few would be unacceptable, and must be paid out before any future claims were.
The Renshaws' house and 10 acres in Akatarawa were sold at auction in late October.
In mid-November a $19 million claim by a couple who each owned 499 shares in Skybolt Developments, where Patrick Renshaw owned two, brought total claims past $50 million.
The December 21 'Leader' reported that some creditors who had lost under $1000 would get their money that week, as would seven whose trust funds had been frozen. Hardship cases would get $30 000. 2700 partners or lawyers in sole practice would be levied $10 000, payable over 5 years; this should enable the Law Society to meet 80 per cent of admitted claims. The investors support group chairperson, Mark Rammell was not happy about the way the Society made its decisions, including the 80% cap and five-year period. The group's lawyer questioned whether proposed law changes would prevent similar situations in future.
In the February 1, 1993 'Leader' Peter McCardle, M P was quoted as saying that he had investigated, and that talk of Patrick Renshaw operating a TAB account from prison was untrue.
February 13, 1995; the Law Society had taken out a $7.3 million loan, so as to comply with a High Court ruling that they must pay claims immediately. This would allow all agreed claims to be settled.
March 20, 1995; Patrick Renshaw had been released from Rimutaka Prison on March 15 and had already been on work pariole and weekend leave; most people interviewed on Main Street said he should still be in prison. His lawyer said he had no assets or property hidden away; he apologised to his former clients and investors and their families and to his family, and to the legal profession. He had been declared bankrupt, and owed Inland Revenue child-support payments, but had no means of payment.
March 27; letter from Patrick's father, Peter; criticising the way media had dealt with the release; talk-back radio, reporters, radio and TV waiting at Rimutaka Prison for him to emerge (he had already left).
Next week, two replies; one saying that the punishment had not fitted the crime, and the other describing the letter as patronising and sneering.
May 15; an Inside New Zealand TV documentary had Patrick Renshaw apologising; when asked why auditors had not picked up the situation, he said that they were being sued by the Law Society. Also interviewed; Mark Rammell of the investors' support group, and their lawyer, Grant Cameron; Austin Forbes, Law Society president; and local businessman Kevin Pepperell. The article was headed 'No pot of gold for anyone, says Renshaw'.
November 22; the Law Society was suing Renshaw Edwards's auditors, Clark Fitzgerald for $24.6 million; an earlier figure reported had been $4.2 million. The Society of Accountants no longer had a fidelity fund, after paying $12 million after an Auckland accountant's actions, and was not defending Mr Clark; and such a fund did not cover negligence.
1996
June 5; the Law Society had settled the long-standing claim against Clark Fitzgerald out of court; details were confidential. The partners were working separately in Upper Hutt.
The August 19, 2015 'Dominion Post' reported that Patrick Renshaw, now 68, and a tax adviser, had pleaded guilty to 42 aiding-and-abetting charges, resulting in a $144 968 shortfall in tax paid, with another $201 413 attempted; mostly related to PAYE deductions for employees of his own company; there had also been false GST returns for four companies and false tax returns for himself and one company
Also known as
Alternative nameEdwards Paino & GwilliamFor the years1st February 1992
For the years1st February 1992Also known as
Alternative name Renshaw, Edwards, Hurd and PainoFor the years1983-(?)1992
For the years1983-(?)1992loading google map....
Renshaw Edwards, Barristers & Solicitors, and related events.. Upper Hutt City Library, accessed 04/04/2026, https://uhcl.recollect.co.nz/nodes/view/23536