David Henderson given one-month bankruptcy reprieve
Auckland property developer David Henderson has been given another month to try and fight off a bankruptcy application against him by Inland Revenue.
Auckland property developer David Henderson has been given another month to try and fight off a bankruptcy application against him by Inland Revenue.
In the High Court at Auckland today Associate Judge David Abbott adjourned the IRD's application against Mr Henderson to a fixture some time in the week to May 30.
Mr Henderson says his creditors proposal reached the required threshold of 75% support at a meeting yesterday but he still has to get it approved by court.
IRD lawyer Nick Malarao, who opposed the adjournment, said the IRD has doubts about whether the threshold was actually reached.
The court heard that Mr Henderson's proposal squeaked past the 75% requirement, reaching 75.68% creditor support.
Lynne Van, appearing for BankWest, also opposed the adjournment, saying the amount of money owed by Mr Henderson is rising as interest accrues.
However, Mr Henderson's lawyer Daniel Grove said, "My client is more anxious than anyone to get this resolved."
Making the adjournment, Associate Judge Abbott also allowed the IRD to file an application on the preliminary issue of whether the threshold had been reached.
He said a judgment by Associate Judge Jeremy Doogue, rejecting Mr Henderson's earlier proposal, did so on the basis of procedural issues and not the substantive merits of the proposal itself.
But the judge did say, "an issue is whether or not Mr Henderson should have effectively a second bite of the cherry."
Niko Kloeten
Tue, 19 Apr 2011
Tue, 19 Apr 2011
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David Henderson given one-month bankruptcy reprieve
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