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Developer fighting bankruptcy meets creditors

Contributor:
Fuseworks Media
Fuseworks Media

Wellington, March 25 NZPA - Developer David Henderson yesterday met his creditors in Auckland to plead for more time to meet his obligations to them.

Many of his companies are in liquidation and he is fighting bankruptcy.

At the Northern Club meeting he sought unsecured creditors' patience until he could find money, The New Zealand Herald reported.

After the meeting, Mr Henderson said creditors were claiming $166 million in personal guarantees.

His barrister, Daniel Grove, said the amount claimed was "a moving picture".

Inland Revenue wants $3,659,181.53, plus costs and disbursements of $27,378.

Mr Henderson said that was for a leasing deal at Princess Wharf in Auckland.

His Kitchener Group was involved with the six white wharf buildings, including Hilton Auckland and the Overseas Passenger Terminal.

Mr Grove evicted the Herald from the room where yesterday's meeting was held, and declined to provide documents outlining the amount being claimed by creditors.

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