When Tim Tepaki returned to the Cook Islands, he brought two presents with him. The first was Unit Titles, which was passed by Parliament in 2005 to double the value of property as shown in LAT sales, and the second was Entitlement Titles, yet to be released to the public and expected to rain money when it does.

The difference is unit title is owned by the body corporate, which also own hotels, and entitlement title is owned by MOP (Merchant of Paradise), a private company which needs unit titles to sell – MOP only needs a five-year moratorium to wipe the slate clean, not 60 years!

The unit titles and entitlement titles go hand in hand and the latter doesn’t need an act of parliament because it’s not a government product.

That said, it seems the whole world owes money after Covid-19 pandemic except for developer Tim Tepaki, which explains why shops are ramping up prices for bread and government is requiring more ministers.

For the record, entitlement titles are expected to yield $597,681,000 gross sales including $14,942,025 agency fees, enough to pay for a 5-year moratorium, S358,608,600 for body corporate, enough to retire all debts, $89,652,150 for VAT, which government never had and $134,478,225 merchant bank – needless to say, merchant bank will be gifted to the Cook Islands people before MOP exits in five years!

And for the record, the lessor (Tepaki) was mandated by an act of parliament in 2005 and he hasn’t issued unit titles with land measure yet. He is expected to collect NZ$15,343,624 at 3.5 per cent for 16 years – needless to say, he will gift all to the Cook Islands people!

For the record also, the lessor will take 15 to court including staff, managers, receivers, lawyers and banks, and expected to collect NZ$20,830,500 from them – which he will gift to the Cook Islands people also!

Subject to checks and balances, the lessor and MOP are expected to dish out over NZ$170,000,000 to the Cook Islands people – more to come!

Native Whisperer

(Name and address supplied)