Jacobsen Family Facing Court Action for $4 million Debt

The David Family has launched court action to recover funds from the Jacobsen Family totalling over $4 million, together with ongoing interest, costs and charges.

A statement released on Friday by Peter Kemp, Principal of Macpherson + Kelley, stated "lawyers acting for the David Family today commenced Supreme Court proceedings against Jacobsen Holdings Pty Ltd and against Kevin Jacobsen.

"They also appointed Brian Silva and Andrew Cummins of BRI Ferrier as receivers of Kevin Jacobsen Pty Ltd.

"This action reflects the extreme frustration felt by John David after his family provided substantial financial support to the Jacobsen family by way of loans in 2003.

"These were repayable at the expiration of two years, and by selling shares in a key Jacobsen company in March 2008.

"Despite patient negotiations and extensions of time for the repayment, no funds have been repaid since June 2008 leaving Mr David with no option but to pursue the matter through the courts."

The statement quoted John David as stating "my patience has now reached its limit and I have asked my legal advisers to take whatever action is available to me to get settlement of these debts."

In response, the Sefiani Communications Group issued a statement yesterday stating "Kevin Jacobsen is deeply distressed by the action of his good friend John David and the David Family to commence legal proceedings against him and the companies Jacobsen Holdings Pty Ltd and Kevin Jacobsen Pty Ltd.

"Jacobsen Holdings Pty Ltd has the capacity to repay its debt immediately, but a Jacobsen family feud is preventing the release of funds which requires co-signatory agreement of Kevin Jacobsen's co-directors: his brother Col Joye or his niece (Col Joye's daughter) Amber Jacobsen."

The statement continued "Kevin Jacobsen is shocked and saddened John David is taking action to recover a debt from his private company Kevin Jacobsen Pty Ltd" and quoted Kevin Jacobsen as stating "John and I had an private oral agreement in the presence of witnesses that this debt would be written off."

Kevin Jacobsen is a Principal of Jacobsen Venue Management and has presented Australian tours for acts including Barbra Streisand, Bruce Springsteen, the Bee Gees, The Three Tenors, Disney's Beauty and the Beast and Fame, as well as being the Executive Producer of the musical theatre production The Man from Snowy River: Arena Spectacular.

Along with his brothers Keith and Col Joye, he was a member of Australian 1960s band, The Joy Boys.

He was awarded the Medal of the Order of Australia in 1985 for his services to the performing arts and entertainment industry.

Jacobsen Venue Management is the owner/operator of the Vector Arena in Auckland.

Image shows Kevin Jacobsen.