{{Short description|New Zealand businessman (born 1959)}} {{Use New Zealand English|date=December 2024}}
{{Use dmy dates|date=April 2021}} '''Eric Watson''' (born 1959) is a former businessman from New Zealand.
In 2011, the ''National Business Review'' listed Watson as the 21st richest New Zealander.<ref name=NBR>{{cite news|title=The Rich List at a Glance (Wealth order) |url=http://www.nbr.co.nz/rich-list-glance-wealth-order |newspaper=The National Business Review |date=27 July 2011 |access-date=24 August 2011 }}{{dead link|date=December 2016 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> However, he was removed from the 2019 NBR Rich List.<ref>{{Cite web|url=https://www.newstalkzb.co.nz/news/business/2019-rich-list-sir-bob-jones-joins-billionaire-club/|title=2019 Rich List: Sir Bob Jones joins billionaire club|last=Herald|first=N. Z.|website=ZB|access-date=28 January 2020}}</ref>
==Personal== He attended Xavier College in Christchurch where he enjoyed his schooling. His first job on leaving school was as a butcher's apprentice. He later became a sales and branch manager at Whitcoulls and then a manager for Xerox.<ref name=mcnabb2011>{{cite news|title=Assembling a fortune, deal after deal|first=Denise|last=McNabb|url=http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10675761|newspaper=The New Zealand Herald|date=27 September 2010|access-date=20 February 2011}}</ref>
==Businesses== He left Xerox in 1992 to start the '''Blue Star Group'''.<ref>{{Cite web|url=http://investing.businessweek.com/research/stocks/peopleperson.asp?personId=8584272&ticker=CAGZ:US&previousCapId=124903&previousTitle=CrossHill%20Financial%20Group%2C%20Inc|title=Eric Watson: Executive Profile & Biography|work=investing.businessweek.com|access-date=23 February 2011}}{{dead link|date=April 2023|bot=medic}}{{cbignore|bot=medic}}</ref>
===Hanover=== {{Main|Hanover Finance}} Watson and business partner Mark Hotchin bought Elders Finance in 1999. Elders, and a number of other finance companies, were brought together to create Hanover Group.<ref name=taylor-201102>{{Cite news|last=Taylor|first=Phil|title=Mark Hotchin: The man behind the money|url=http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10707295|newspaper=The New Zealand Herald |date=19 February 2011|access-date=20 February 2011}}</ref> In July 2008 the finance companies within Hanover Group froze repayments, suspending acceptance of new deposits.<ref name=taylor-201102/>
Hanover paid dividends of NZ$41 million in the 2007 financial year and NZ$45.5 million in the 2008 financial year.<ref name="Hanover">{{cite web|url=https://www.societies.govt.nz/scanned-images/87/BC10056892687.pdf|title=BC10056892687.pdf|author=Staff|work=societies.govt.nz|year=2008|access-date= 16 June 2011}}</ref> The following financial year, NZ$68.5m was contributed to Hanover by entities associated with Watson and Hotchin.<ref name="Hanover"/>
In December 2009 Hanover Group debenture holders, note holders and bond holders voted in favour of swapping their debentures, notes and bonds for shares in Allied Farmers Limited (NZX: ALF). This transaction resulted in ALF assuming the net asset position of the Hanover Group finance companies.<ref>{{Cite web|url=http://www.nbr.co.nz/article/hanover-investors-vote-yes-allied-farmers-deal-116611|title=Hanover investors vote yes to Allied Farmers deal|work=nbr.co.nz|access-date=4 March 2011|archive-url=https://web.archive.org/web/20110724193744/http://www.nbr.co.nz/article/hanover-investors-vote-yes-allied-farmers-deal-116611|archive-date=24 July 2011|url-status=dead}}</ref>
When Hanover collapsed, causing significant losses for many small investors, concerns were raised about Hanover group's true financial position, its solvency when paying dividends, transactions that may have benefited related parties, and the accuracy of asset valuations.<ref>{{Cite web|url=http://www.stuff.co.nz/business/industries/8610994/Eric-Watson-not-surprised-SFO-closing-case|title=Eric Watson not surprised SFO closing case|date=30 April 2013 }}</ref>
===Cullen Investments=== Watson founded Cullen Investments in 1995 and is currently the executive chairman of the international private investment company.<ref>{{Cite news|url=https://people.forbes.com/profile/eric-j-watson/81286|title=Profile of Eric J. Watson|work=people.forbes.com|access-date=28 February 2011|archive-url=https://web.archive.org/web/20110111120730/http://people.forbes.com/profile/eric-j-watson/81286|archive-date=11 January 2011|url-status=dead}}</ref> The company has interests in the following sectors; fashion retail, financial services, agriculture, real estate and sports and entertainment.<ref name="Cullen Investments">{{Cite web|url=http://www.culleninvestments.com/cullen-investments.php|title=Cullen Investments|work=culleninvestments.com|access-date=28 February 2011}}</ref> The firm's primary focus is development of its international portfolio, which includes interests in the United States, United Kingdom, Australia and New Zealand.<ref name="Cullen Investments"/>
Through the firm, he owned Bendon Group. First launched in New Zealand, the company launched sales channels in Australia, US, UK, Europe and the UAE. The brand included ranges from Elle Macpherson<ref>{{Cite web|url=http://www.bendonlingerie.com.au/ellemacphersonintimates |title=Elle Macpherson intimates |work=bendonlingerie.com.au |url-status=dead |archive-url=https://web.archive.org/web/20141224193044/http://www.bendonlingerie.com.au/ellemacphersonintimates |archive-date=24 December 2014 }}</ref> who helped launch the brand into the UK and Europe,<ref>{{Cite web|url=http://www.highbeam.com/doc/1P2-17453464.html|title=Elle fronts Bendon's UK launch – The Press|work=highbeam.com|access-date=2 March 2011}}{{dead link|date=February 2019|bot=medic}}{{cbignore|bot=medic}}</ref> and Stella McCartney.<ref>{{Cite web|url=http://www.the-lingerie-post.com/2008/01/stella-mccartney-to-release-first-lingerie-collection-in-february-2008 |title=Stella McCartney to release first lingerie collection in February 2008 |work=the-lingerie-post.com |access-date=2 March 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110716215326/http://www.the-lingerie-post.com/2008/01/stella-mccartney-to-release-first-lingerie-collection-in-february-2008/ |archive-date=16 July 2011 }}</ref>
Through the firm, he bought a 75% stake in the New Zealand Warriors in 2000,<ref>{{Cite news|url= https://www.smh.com.au/articles/2003/09/28/1064083254800.html|title=Warrior chief living life to the Maximus|work=smh.com.au|access-date=4 March 2011|date=28 September 2003}}</ref> which competes in the Australasian National Rugby League (NRL) and is New Zealand's largest and highest-profile privately owned sporting franchise. He later reduced his share to 50% while selling off the other half to New Zealand billionaire Owen Glenn. However, in 2015, he increased his share to 100% becoming the sole-owner of the 'Vodafone Warriors' franchise.<ref>{{Cite news|url= http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11552486|title=Eric Waston now Warriors sole owner|work=New Zealand Herald |access-date=29 November 2015|date=28 November 2015}}</ref> The firm has an international property portfolio, including commercial assets and residential development, predominantly in New Zealand, the US and UK.<ref>{{cite news |url= http://www.nzherald.co.nz/property/news/article.cfm?c_id=8&objectid=10662351|title=Luxury estate ideal corporate retreat or idyllic personal getawayNews|work=New Zealand Herald |year=2011|access-date=9 March 2011}}</ref>
The Watson Foundation is a charitable trust established by Cullen Investments to enrich the lives of underprivileged children and young people and assist with their needs, including care, support, protection, health and education. The foundation sponsored till about 2011<!--past: "sponsored" as there is no evidence I can find that grants and donations were made beyond 2011, according to their own site, with no outside info when Googling 'Cullen Investments "Watson Foundation"' --> charities such as The First Tee of New Zealand.<ref>{{Cite web|url=http://www.thefirstteenz.org/club/scripts/libraryview_document.asp?GRP=7248&NS=GDC&APP=80&DN=SPONSORS|title=The First Tee of New Zealand View Library Document: Sponsors|work=The First Tee|access-date=7 March 2011}}{{dead link|date=April 2017}}</ref>
Cullen Investments and many associated NZ companies were placed into liquidation in late 2019 early 2020.[https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12290284&ref=art_readmore]
Watson is involved in a long-running legal dispute with Glenn. In connection with this case, in October 2020 Watson was sentenced to four months prison for contempt of court.<ref>[https://www.stuff.co.nz/business/123143130/eric-watson-sentenced-to-jail-in-uk-for-contempt-of-court-in-sir-owen-glenn-case#:~:text=Eric%20Watson%20has%20been%20sentenced,more%20important%20now%20than%20ever. Eric Watson sentenced to jail in UK for contempt of court in Sir Owen Glenn case]</ref> Liquidators were seeking $57 million from Eric Watson in 2023.<ref>{{Cite web |title='No defence to this claim': Court rules Eric Watson owes $57m |url=https://www.nzherald.co.nz/business/out-of-service-eric-watson-forced-to-face-57m-claim/FUTL5ZQDDVDZHEZPNF6IEA2YFA/ |access-date=2023-02-21 |website=The New Zealand Herald |date=8 October 2021 |language=en-NZ}}</ref><ref>{{Cite web |date=2023-01-20 |title=Cullen liquidators secure court date for $57m Eric Watson claim |url=https://www.nbr.co.nz/law/cullen-liquidators-secure-court-date-for-57m-eric-watson-claim/ |access-date=2023-02-21 |website=NBR {{!}} The Authority since 1970 |language=en-GB}}</ref><ref>{{Cite web |last=Cann |first=Geraden |date=2022-07-22 |title=Investigators confident they know where Eric Watson is |url=https://www.stuff.co.nz/business/129352466/investigators-confident-they-know-where-eric-watson-is |access-date=2023-02-21 |website=Stuff |language=en}}</ref> In July 2023, the liquidators instructed their solicitors to start bankruptcy proceedings against Eric Watson.<ref>{{Cite web |last=Taunton |first=Esther |date=2023-07-17 |title=Liquidators start bankruptcy proceedings against Eric Watson |url=https://www.stuff.co.nz/business/132563683/liquidators-start-bankruptcy-proceedings-against-eric-watson |access-date=2023-09-14 |website=Stuff |language=en}}</ref><ref>{{Cite web |date=2023-09-15 |title=Bankruptcy looms for Eric Watson |url=https://www.nzherald.co.nz/business/bankruptcy-looms-for-eric-watson/OF63JAUUVNG25GKDQG6YWAOLXQ/ |access-date=2023-09-14 |website=The New Zealand Herald |language=en-NZ}}</ref>
===Watson Bloodstock===
Watson Bloodstock had interests in a number of race horses, including winners of Group races such as:
* Little Jamie, winner of the 2000 Manawatu Sires Produce Stakes. * Maguire, winner of the 2002 Auckland Cup.
=== Long Island Iced Tea Corp === The U.S. Securities and Exchange Commission in July 2021 charged Eric Watson and two others with insider trading in relation to Long Island Iced Tea Corp's announcement in December 2017 that it would change its name to Long Blockchain Corp. This change also reflected a change in its focus to blockchain from iced tea and lemonade. As a result its shares soared by nearly 400%.<ref>{{Cite news |last=Stempel |first=Jonathan |date=2021-07-09 |title=Iced tea-to-blockchain pivot prompts SEC insider trading lawsuit |language=en |work=Reuters |url=https://www.reuters.com/business/iced-tea-to-blockchain-pivot-prompts-sec-insider-trading-lawsuit-2021-07-09/ |access-date=2022-09-14}}</ref><ref>{{Cite web |last=Anthony |first=Dileepa Fonseka and John |date=2021-07-10 |title=Former NZ rich-lister Eric Watson charged with insider trading by US market watchdog |url=https://www.stuff.co.nz/business/industries/300354195/former-nz-richlister-eric-watson-charged-with-insider-trading-by-us-market-watchdog |access-date=2022-09-14 |website=Stuff |language=en}}</ref><ref>{{Cite web |date=2021-07-10 |title=Eric Watson charged with insider trading in US |url=https://www.odt.co.nz/business/eric-watson-charged-insider-trading-us |access-date=2022-09-14 |website=Otago Daily Times |language=en}}</ref><ref>{{Cite web |title=SEC.gov {{!}} SEC Charges Three Individuals with Insider Trading |url=https://www.sec.gov/news/press-release/2021-121 |access-date=2022-09-14 |website=www.sec.gov}}</ref>
==Marriage== He has one child, Sam Watson, from a relationship before his marriage to Nicky Watson. He was previously married to Nicola Watson, a model now known as Nicola Robinson.<ref>{{cite web|url=http://home.nzcity.co.nz/news/article.aspx?id=26476&cat=975|title='Newsboy' Wells & Watson most sexy|publisher=NZ Entertainment news|access-date=1 August 2008}}</ref> He has three young sons by his Swedish partner, model Lisa Henrekson.<ref>{{cite news|url=http://www.nzherald.co.nz/entertainment/news/article.cfm?c_id=1501119&objectid=10668233|title=Eric Watson moves on from cardies to cows as Sardinia beckons|publisher=The New Zealand Herald |access-date=24 August 2011|date=23 August 2010}}</ref>
==See also== {{Portal|Sports}} *List of NRL club owners
==References== {{reflist}}
== External links == * [http://www.culleninvestments.com/index.php Cullen Investments] * Watson Foundation
{{DEFAULTSORT:Watson, Eric}} Category:1959 births Category:Living people Category:New Zealand businesspeople Category:New Zealand rugby league chairmen and investors Category:New Zealand expatriates in England Category:New Zealand Warriors chairmen and investors Category:Rugby league chairmen and investors Category:Date of birth missing (living people) Category:Place of birth missing (living people) Category:People educated at Catholic Cathedral College