The Hendo Files have remained closed these last several months mainly because, as I have previously said, the story was becoming somewhat repetitive. There's only so many angles you can take on yet another creditor tussling with slippery Dave in the High Court.

It's worth noting though that our libertarian hero narrowly avoided bankruptcy yesterday. The judge agreed to allow Hendo to try to implement a repayment scheme which appears to involve the receiver of South Canterbury Finance finding a buyer for Hotel So. Which doesn't appear likely.

Justice Christiansen saId that he doubted that the repayment scheme had much of a chance but adjourned the hearing until November 29.

Justice Christiansen said that the gross debts filed against Hendo's companies was $165 million.

The bankruptcy petition is brought by Canterbury Mortgage Trust (CMT) which is supported by Equitable Property and Finance, South Canterbury Finance, Bank of New Zealand, Strategic Finance and Havenleigh Global Services Ltd.


Post a Comment

Comments are moderated.