Developer pursued by second creditor

Failed Christchurch developer Robin Schulz has fended off bankruptcy by the taxman but another creditor has stepped in to pursue him.

Lawyers for Inland Revenue told Associate Judge Rob Osborne in the High Court in Christchurch yesterday Schulz had settled a long-standing tax debt on which it took bankruptcy proceedings against him.

Judge Osborne then substituted IRD with another creditor, Dominion Finance Group Ltd (in liquidation), which was owed an unspecified amount. The new application to bankrupt Schulz was adjourned to September 18.

Schulz, who has made frequent appearances in the debt courts, was connected with a $500m planned for McArthur Ridge, near Alexandra. The project's parent company went into receivership.

Schulz was also the director and shareholder of Central Otago Vintners Ltd, which was placed in receivership in 2008 with debts of about $9m. Other failures include McArthur Ridge Wines - he was the sole director and shareholder. It was wound up in December 2012 by IRD with debts of $2.5m. 

The Press