'Angry, jilted' car importer contests liquidators' fees

Autoterminal is the local subsidiary of Japanese car importer IBC, (Image: Autoterminal)

Fri, 16 Aug 2024

A bitter dispute between two former Mormon missionaries over a Japanese car exporting business has resulted in a $38 million judgment and accusations of excessive liquidators’ fees.New Zealander Jojo Hemi and American Robert Stone met as young Christian students in Japan in the early 1990s. Together, they built up secondhand vehicle exporter IBC.IBC exports around 1,000 vehicles a month, and although it sells worldwide, its biggest market is NZ.In 2000, it established a local distribution subsidiary, Autoterminal NZ (ATNZ), to i...

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