Henderson released from bankruptcy
Christchurch property developer Dave Henderson will be discharged from bankruptcy but barred from management or control of businesses for a further six years.
The High Court order followed the Official Assignee’s objection to Mr Henderson’s release from bankruptcy, which required a public examination of Mr Henderson before a decision could be made.
Mr Henderson was bankrupted in November 2010 after the failure of his Property Ventures group. He will cease to be bankrupt on January 27.
The judgment said Mr Henderson’s indebtedness was mainly due to his providing of personal guarantees for the debts of his companies. It estimated the total indebtedness of his bankrupt estate at $100-150 million.
The restrictions on Mr Henderson mean he is barred from entering into any contract by which he personally guarantees the debt or other obligation of another person or entity, and can’t be involved in the management or control of any business, or be employed by any relatives.
The judgment says Mr Henderson will be free to use and develop his “significant entrepreneurial skills” as an employee of non-related organisations.