Bankrupt Henderson due back in NZ next week

Bankrupt property developer David Henderson. Photo / Steven McNicholl

Bankrupt Princes Wharf developer David Henderson is expected back in Auckland next week after sailing off to Spain without permission from the Official Assignee, the department confirmed today.

Henderson left on June 10, one day after he was bankrupted, without telling the OA or seeking approval for the trip - a condition of bankruptcy under the Insolvency Act.

The OA originally believed Henderson was on his friend's yacht off the coast of Australia but this week it emerged, and was confirmed by Henderson, that he was in Spain.

OA regional manager David Harte said the department had been in contact with Henderson this week and a full financial investigation into his affairs would be conducted upon his return next week.

Harte said due to the Privacy Act he could not disclose further details, but added the OA would investigate Henderson's absence without consent and whether he misled the department by claiming he was in Australia. Henderson's lawyer Daniel Grove said earlier this week that he could not comment on behalf of his client or discuss his whereabouts.

Inland Revenue successfully bankrupted Henderson after a two-year battle over debts of $3.7 million, he collectively owed other creditors (including the IRD debt) about $128 million.

His proposal to drip fed $1.5 million to those creditors over a three year period was declined by the High Court because certain key creditors had not been informed of the proposal.

Another application to gain approval for a new proposal was also dismissed by the High Court.

Henderson was involved in multi-million deals around Auckland, he was famously involved in the re-development of Princes Wharf, where he lived in a $10 million apartment above the Hilton, and the re-development of Victoria Park.