Bizarre New Zealand Bankruptcy
Posted on June 27th, 2011
New Zealand multi-millionaire David Henderson was recently declared bankrupt in Auckland due to a massive amount of debt owed to the Inland Revenue Department and private creditors. That, however, did not keep the uber-rich real estate developer from vacationing in Europe with his girlfriend, where he was sailing the Spanish coast on fellow millionaire, David Kimpton’s yacht.
Not surprisingly, leaving the country without official court permission violates Henderson’s conditions of bankruptcy, carrying with it a possible punishment of three years imprisonment, a fine of $10,000, or both.
Pat Rippen, an Auckland businessman and close friend of Henderson said that ‘life is for living’, reports Celeste Gorrell Anstiss on www.nzherald.co.nz.
Rippen continued, saying, “You’ve got to do what you’ve got to do and cop the consequences.” During his period of bankruptcy he stated that he “…was in Fiji beside the pool”. He also opined that he did not think that his pal would get into trouble for violating the bankruptcy court’s conditions.
Henderson is well known in his homeland for developing the Auckland’s Princes Wharf and the boat-shaped, five-star Hilton hotel. Unfortunately he is also somewhat famous for his 2005 drug conviction, where he was given a suspended sentence for attempting to purchase cocaine.
He is also known in the business world for a number of failed projects during the recent and ongoing recession. His penthouse apartment, located on the top of the Hilton, has been on the market for four years. That home, valued at slightly under $5 million, has earned the title of ‘New Zealand’s most expensive apartment’. It was recently shown as the model house on New Zealand’s Next Top Model and has been the site of many over-the-top celebrity parties.
So, whether you are a jet-setting real estate developer or a “regular Joe”, you may be facing piles of unpaid credit card invoices, mortgage bills and car payments. Filing for Chapter 7 or Chapter 13 personal bankruptcy with a knowledgeable and experienced Legal Helpers attorney at your side may be the key to your financial freedom. For your free initial consultation, please call 800-260-1402
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Tags: New Zealand, Zealand
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