Erceg bankrupted as creditors win long court battle

Embattled boat builder Ivan Erceg was finally made bankrupt this week after many failed attempts by various creditors.Cayman Island-based yacht company Balenia finally succeeded on Tuesday during a hearing at the High Court at Auckland. Mr Erceg, who is still living in Europe, was announced bankrupt by Associate Judge Jeremy Doogue at 3.20pm on February 2. Official Assignee David Harte said he was waiting for further creditors to come forward. Mr Harte said Mr Erceg owed Balenia $US2,150,000 and $NZ10,730.
 

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