Published 31 March 2011
Auckland property developer David Henderson has filed a new insolvency scheme, which will go to a creditor vote scheduled for Monday 11 April.
But for a change in timing of payments, it’s identical to a proposal supported by the required majority of creditors at a meeting in March 2010, but rejected by Associate Judge Jeremy Doogue because he concluded a large creditor, BankWest, hadn’t been properly served with notice of that meeting and a subsequent meeting in April 2010.
Inland Revenue’s application to bankrupt Mr Henderson returned to the Auckland High Court today because the first insolvency proposal was rejected, but was adjourned to Tuesday 19 April because the second proposal had been filed.
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: Counsel, story written by Bob Dey for the Bob Dey Property Report.