Delta Utility Services director Mike Coburn resigned as an executive director of Jacks Point Land Ltd last December and said yesterday he had no conflict of interest in Delta's purchase last week of 100 sections of the Queenstown development.
Mr Coburn, a Dunedin businessman, said whenever there was any discussion about Delta and the 700-lot Jacks Point development near Queenstown, he declared his interests.
Up to December 17 last year, he was an executive director of Jacks Point Land Ltd, overseeing the first stage of development of the 1200ha lakeside village which would eventually include 1300 residential homes, accommodation, restaurants, shops, a luxury lodge and golf course.
Last week Dunedin infrastructure company Delta announced it had bought 100 sections at Jacks Point from listed Australian infrastructure company Babcock and Brown, which owns the residential sections, now managed by Jacks Point Ltd.
Mr Coburn said he had ensured there was no conflict of interest.
He said that in addition to the section purchases, there were long-term benefits to Delta as last week's deal included a maintenance agreement.
"In terms of benefits to Delta, in the long term they are substantial," he said.
