SPCS

SOCIETY FOR PROMOTION OF COMMUNITY STANDARDS INC.

Dave Henderson – twice bankrupted: His epic struggle with Robert Walker – Wellington Liquidator

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The struggle between businessman Dave Henderson and liquidator Robert Walker has become epic. Martin Van Beynen, reporter finds two men – alike in many ways – injuring each other.

Henderson, in Walker’s view, represents everything that is wrong with New Zealand commerce.
Walker, in Henderson’s view, represents everything that is wrong with the insolvency industry……

When IRD put Henderson’s mothership company Property Ventures Ltd (PVL) into liquidation in 2010 it turned to Walker to be liquidator. Walker was chosen for a particular reason. He is a very skilled accountant, good at unpicking companies and not frightened of litigation. He also has a thing about the proliferation of companies – he thinks they are a disaster for accounting and accountability – and in Henderson he seems to have a prime example.

Henderson has been a director of 120 companies, 52 of which have gone into liquidation. The National Enforcement Unit of the Ministry of Business, Innovation and Employment estimates the 52 companies in liquidation have losses of $219m. Henderson disputes this and says debts were backed by plenty of assets.

For full story published 20/08/15 see:

.http://www.stuff.co.nz/the-press/business/71325935/the-hunter-and-the-hunted

Dave Henderson – bankrupt developer – says he has learned lesson

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Bankrupt developer Dave Henderson says he could cope with getting back into business under court supervision.

Henderson, 60, is under public examination in the High Court in Christchurch before Associate Judge Rob Osborne to decide if he can be discharged from bankruptcy. The examination is in its third week and was adjourned on Thursday to October 27.

He was adjudicated bankrupt in November 2010, with self-acknowledged debts of about $142 million.

The Official Assignee (OA) objects to the discharge and alleges Henderson failed to comply with restrictions.

Judge Osborne put a number of questions to Henderson at the end of the hearing on Thursday, suggesting his evidence was inconsistent with emails supporting the OA’s objection.

He asked Henderson how he would cope with a release from bankruptcy controlled by the court, given he preferred verbal discussions to paperwork. That would not work with the courts, Osborne said. [Read more…]

Dave Henderson’s loan and payment emails probed in High Court examination

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Property developer Dave Henderson says emails purporting to show he controlled a bank account and raised loans while a bankrupt do not show the true picture.

Henderson, 60, is under public examination in the High Court in Christchurch before Associate Judge Rob Osborne to decide if he can be discharged from bankruptcy.

He was adjudicated bankrupt in November 2010, with self-acknowledged debts of about $142 million.

The Official Assignee (OA) objects to his discharge and alleges he controlled payments from a bank account in the name of AFB Treasury Ltd and was the key figure in business dealings in breach of his obligations as a bankrupt.

Full story by Martin Van Beynen dated 7/08/15

http://www.stuff.co.nz/business/industries/70887765/dave-hendersons-loan-and-payment-emails-probed

http://www.stuff.co.nz/the-press/news/70928399/henderson-needs-60000-to-70000-a-year-for-lifestyle

Dave Henderson tax compliance ‘abject failure’

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A court probe into bankrupt Dave Henderson has returned to $1.7 million of GST outstanding on the 2008 sale of properties to the Christchurch City Council.

The council bought five central city properties from Henderson entities for $17m, in a deal described as a “bailout” by critics.

Henderson, 60, is under public examination in the High Court in Christchurch before Associate Judge Rob Osborne to decide if he can be discharged from bankruptcy.

Henderson was adjudicated bankrupt in November 2010 with self-acknowledged debts of about $142 million.

He was due to be automatically discharged from bankruptcy in January last year but the discharge was opposed by the Official Assignee. The businessman was also bankrupted in 1996.

Full story by Martin Van Beynen published 4/08/15

http://www.stuff.co.nz/the-press/business/70829347/henderson-tax-compliance-abject-failure

Dave Henderson’s business affairs under High Court probe

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Dave Henderson – a former high-flying property developer – has been accused of misrepresenting his personal financial position in documents supporting loan applications.

Henderson, 60, is under public examination in the High Court in Christchurch before Associate Judge Rob Osborne to decide if he can be discharged from bankruptcy and, if so, under what conditions.

Henderson was adjudicated bankrupt in November 2010 with self-acknowledged debts of about $142 million.

He was due to be automatically discharged from bankruptcy in January last year but the discharge was opposed by the Official Assignee. The court will ultimately decide. The businessman was also bankrupted in 1996.

See Full story by Martin Van Beynen. Published 3/08/15

http://www.stuff.co.nz/the-press/business/70781284/hendersons-business-affairs-under-court-probe