Longtime property trader Paul Percy Chapman has been undone by $11 million of personal guarantees, while the developer of the skinniest accommodation tower in central Auckland, Peter Chevin, has also been bankrupted.
Both men were among a list of reasonably prominent Aucklanders bankrupted in the High Court at Auckland this week.
Others included the former owner of the Hugo Boss business in New Zealand, Harry Howe, and Grant Fell, of the 1980s-90s band Headless Chickens, which was reformed in July and is holding a reunion concert at the Powerhouse in Auckland on 28 November.
Mr Chapman’s bankruptcy was ordered on the application of the Oaks Law Centre Solicitors Nominee Co, of Whangarei. He was an active property trader around Auckland in the 1980s and was bankrupt from 2002 to 2005. Among his more recent property activities, Mr Chapman was involved in a company called Queenstown Alpine, retaining a 75% interest after selling the rest early this year to accountant Patrick McCormick.
Mr McCormick took over as director this year. He was struck off the register of chartered accountants on 28 July.
Mr Chevin, developer of the 18-storey Columbard apartment tower on Wyndham St in the Auckland CBD and director of a number of private property companies, got court leave to try for a creditors’ debt compromise scheme but could not muster enough support.
He was banned as a company director for four years from 8 February. Before his business started to spiral downward, he tried to follow the Columbard development up with a similar shortstay apartment building on Scotia Place, off the top of Queen St, and ran into stiff opposition when he tried an intensive development on Stokes Rd, Mt Eden.
Harry Howe is a former director of Green Acres Franchise Group, Julian Reynolds Agency Co, Saks Clothes and Suit Centre NZ Ltd. After 20 years in the fashion industry, he has joined Michael Boulgaris’ real estate team, which operates from an office above High St in the Metropolis apartment building in downtown Auckland.
Until the Headless Chickens revival, Grant Fell was involved in a fashion magazine company, Black Light Publishing, and Octane Creative Productions. Black Light was wound up in March and Octane in May.