Published 12 April 2011
Auckland property developer David Henderson has delayed presentation of his new compromise proposal for creditors for a week – until the day before he’s due back in court to face Inland Revenue’s application to bankrupt him.
Mr Henderson’s insolvency scheme was to have gone to a meeting yesterday, but lawyer Daniel Grove said some creditors asked for more time to consider it because they’d had only 3 days to digest its contents.
The proposal is similar to one put to creditors a year ago and eventually rejected by the High Court a month ago, when Associate Judge Jeremy Doogue concluded a large creditor, BankWest, hadn’t been properly served with notice of the first creditors’ meeting in March 2010 and a subsequent meeting in April 2010.
Mr Henderson’s deferral follows the same action by another Auckland property developer, Nigel McKenna, who delayed his creditors’ meeting from last Friday until this Friday for the same reason.
The bankruptcy actions against both men are on the Auckland High Court bankruptcy list for Tuesday 19 April.
31 March 2011: Henderson holds Inland Revenue at bay with insolvency scheme
18 February 2011: Judge reserves decision on Henderson debt proposal
22 September 2010: Adjourned hearing leaves Henderson unbankrupted, uncompromised
9 February 2010: Henderson wins reprieve from bankruptcy with last-minute scheme
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Attribution: Phone interview, story written by Bob Dey for the Bob Dey Property Report.