It looks like failed property developer Dave Henderson has used some of the $17 million dollar bailout he received from the Chrstchurch City Council to resolve his financial difficulties with two of his properties.
Receivers were appointed for Henderson's Living Space hotels in Dunedin and Invercargill. Equitable Property Holdings Ltd (Auckland), owed an undisclosed sum, had appointed the receivers in July over payment defaults.
Now those receivers have stepped aside because, they say, 'good progress' has been made in 'resolving the issues' with Equitable Property.
Yes, public money is being used to smooth, albeit temporaily, the stormy financial waters of 'Hendo'. This is the very same man who has ranted on and on about people supping at the public trough, about welfare 'bludgers', etc.
Meanwhile people who live in Christchurch City Council flats are having to deal with a massive twenty-four percent rent increase.
Henderson has another date in the High Court on September 8 as creditors pursue liquidation proceedings aagainst him.