Developer disputes liquidator's allegations
Property developer Dave Henderson says a liquidator's claims that he used money from a 2008 Christchurch City Council property deal to pay creditors is "absolute nonsense".
In 2008, property developer Henderson sold five inner city properties to the council for $17 million.
Property Ventures is the parent of a web of interconnected companies owned or controlled by Henderson, who was declared bankrupt in November 2010.
Property Ventures liquidator Robert Walker told The Press about $2.5m was left over from the council property deal after paying off mortgages on the properties and that was put into Property Ventures and used to pay creditors likely to try and wind up the company.
On Tuesday, the High Court in Christchurch, at the request of Walker, ordered British supplier Gullwing to refund a US$68,500 (NZ$82,880) payment made by Property Ventures in February 2009.
Associate Judge Rob Osborne ruled the payment had been made at a time when Property Ventures could not meet its due debts, making the transaction unfair to other creditors.
Gullwing did not defend the transaction.
Henderson claimed yesterday Walker has misled The Press, saying the liquidator had the documents showing that the money had actually come from a finance company through a loan facility already in place for the development of a building.
The council property deal had been settled about seven months before the Gullwing transaction, Henderson said.
"That alone would make you think this is a stupid claim."
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