Bankrupt Henderson holidaying in Spain, risks conviction

Last updated 17:43 21/06/2011
David Henderson
BANKRUPT: David Henderson has returned from his unsanctioned trip to Spain.

Relevant offers

Bankrupt Auckland property developer David Henderson is holidaying in Spain on a friend's yacht rather than in Australia as he told the Official Assignee.

The OA, who administers all bankruptcies, must give consent for a bankrupt to leave the country under the Insolvency Act.

Failure to do so could mean a conviction, or up to three years in jail, a fine of up to $10,000 or both.

Henderson fled the country without the OA's permission the day after he was adjudicated bankrupt on June 9 by  Associate Judge David Abbott in the High Court at Auckland after proceedings were initially brought by the Inland Revenue which is owed $3.6 million while Bank of Western Australia is owed about $33m.

Creditors eventually rejected repayment proposals he made to avoid bankruptcy in which he would have paid $1.5m on a debt of $122m.

But his Auckland-based lawyer Daniel Grove told BusinessDay Henderson is due back in the country at the weekend in time for a meeting with the OA.

Grove said his client, famous for developments including Auckland's Prince's Wharf and Precinct apartment building, had been cooperating fully with the OA.

Ad Feedback


Special offers
Opinion poll

Are you happy with the council rates revaluation on your home?



Vote Result

Featured Promotions

Sponsored Content

News tip POINTER

Do you have an idea for a story? Email us or give us a call on 09 925 9700.