Hotchin loses flash car shipping bid
The former Hanover Finance boss also withdrew a bid to have a $1000 a week living allowance increased to between $6000 and $7000 a week.
Former Hanover Finance boss Mark Hotchin failed in a High Court bid today to have his $200,000 Mercedes and wife Amanda’s $90,000 Porsche Cayenne, along with artworks, jewellery and furniture, shipped to his new home on the Gold Coast.
Mr Hotchin – whose New Zealand assets were frozen by the Securities Commission earlier this month – withdrew a bid to have a $1000 a week living allowance increased to between $6000 and $7000 a week.
And he will have to pay $160,000 of outstanding bills from a $A240,000 cash stash in Australia, after chief High Court judge Justice Helen Winkelmann refused to allow bills to be paid from his frozen New Zealand assets.
When his lawyer Bruce Stewart QC said half of the Australian money - $A120,000 – was Mrs Hotchin’s, Justice Winkelmann suggested she might also like to contribute to living expenses.
The best Mr Hotchin and his family can expect from this week’s special court hearing are a few more clothes, photographs and personal household items, after Mr Stewart said Mr Hotchin was “living out of a suitcase.”
Jock Anderson
Tue, 21 Dec 2010
Tue, 21 Dec 2010
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Hotchin loses flash car shipping bid
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