Auckland property developer David Henderson’s bid to stave off bankruptcy has been delayed after the lawyers involved in the case ran out of time to finish it today.

Mr Henderson is trying to get High Court approval for a proposed scheme of arrangement for his debt of about $105 million.

His scheme would see creditors get between 4c and 5c in the dollar, with money coming from his contract to redevelop the historic Victoria Park market site.

Blue Chip boss Mark Bryers has been bankrupted, but not without a fight from his lawyer.

Bryers was bankrupted at the High Court at Auckland yesterday.

The businessman, in debt to the tune of $173,826,300, did not travel from his rented residence in Sydney for the hearing.

He was defended by lawyer Aaron Nicholls in the proceeding brought by Cook Nelson St Leasehold (owed $1.94 million).

Creditors in support of the bankruptcy included GE Finance (owed more than $400,000), Bridgecorp (owed more than $47 million), and Westpac (owed more than $11 million).

Former Blue Chip boss Mark Bryers has been bankrupted.

The businessman, in debt to the tune of $173,826,300, did not travel from his rented residence in Sydney to appear at the High Court in Auckland today.

Lawyer Aaron Nicholls defended Bryers against a bankruptcy proceeding brought by Cook Nelson St Leasehold, owed $1.94 million.

Creditors in support of the bankruptcy included GE Finance (owed more than $400,000), Bridgecorp (owed more than $47 million), and Westpac (owed more than $11 million).

The liquidator at the helm of Lombard’s Tasman Mortgages is waiting to meet lawyers for Blue Chip investors before he decides whether to permit their class action to proceed.

Waterstone Insolvency liquidator Steven Khov says he knows of at least two class actions taken by Blue Chip investors that Tasman has been roped into as secondary parties.

Waterstone has the power to make a call on whether the cases can proceed against Tasman, although the investors can also seek permission to continue from the courts.