Power trust?

If you are one of 252 submitters to the HB Power Consumers’ Trust’s latest review of the ownership of Unison shares, all your personal contact information has been publicly shared. Your privacy violated.

By now you should have received an apology from Trust Chair Diana Kirton.

Here’s mine (I’m voluntarily releasing my email address). I’ll let Chairwoman Kirton spell out the Trust’s incompetence in her own words.

Can't trust the Power Trust

This is a pretty basic mistake. Apparently one reflecting past practices. Discovered by the doggedness of Trust critic, Brian Anderson of Free the Funds.

And if you get the small things wrong …

No surprise then that Chair Kirton and her Trust covey don’t recognise their other significant legal obligations, like determining and then telling shareholders what Unison shares might actually be worth.

If we need a Power Trust at all — a dubious proposition at best — surely we need one that is not an embarrassment, but rather is competent and understands the full fiduciary responsibilities of directors.

The only thing this Trust does with skill is get a fresh photo of the Trustees taken each year to commemorate its insignificant role in handing over our latest annual allotment of Unison’s profits.

Now that they do that online, you can only pray they are a bit more careful with your bank account records.

God forbid they screw that up!

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4 Comments

  1. Where is their [her] credibility. The “faux pas” was first raised with the Trust on 20th October. No response! Then in HB Today on 27th October Diana Kirton tried to skirt around the issue by hiding behind the “process”, still not recognising the seriousness of the breach of privacy. It was almost another week before the Trust apologised.
    How many copies have been downloaded in their entirety?
    Where were the other four Trustees. Silence!
    It’s time for some to submit their resignations.

  2. Gnashing of teeth; tearing of hair!!! oh woe! made a submission but still no letter from Diana Kirton!!!! (Like that would help!!) Yes, people are hurting right now financially, and feeling pretty angry that the ‘Trust’ is holding shares/funds that could be life changing for many. Hats off to Brian Anderson in his endeavours to ‘Free the Funds’…. I respect Brian’s call for resignations of Trustees, but what we actually need is the winding up of HBPCT and the rightful distribution of funds to consumers. A friend in Lower Hutt expressed astonishment that this had not happened years ago… he remembers when it was actioned there, and gosh! the sky did not fall in!!! Time to Free the Funds ! I am sure Diana Kirton and cohort will find another avenue of revenue… hopefully not at the expense of power consumers! In two recent press releases, I have learned there is to be a meeting on 10 November…. but no mention of where or at what time? If anyone can tell me – much appreciated!

    1. The very least the Trust can do for their blatantly breaching our Privacy, is do the right thing! Resign!

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