Bankrupt director enjoying Queensland sun

The bankrupt director of a failed Christchurch house building business says he is enjoying the Queensland sun but is not back in the building game.

Michael Limmer's Perfect Homes business came to a less than perfect crash back in 2002, leaving creditors about $2.4 million out of pocket and 21 homes left unfinished around the city.

He was made bankrupt and was banned as a director.

He shifted to Australia and, according to a source, has been linked with a housing and investment company.

While he is still a bankrupt -- his ban ends next month -- there is nothing to stop him doing business in Australia.

Limmer said he had considered going back into business, but had not got far.

"I was looking at doing some sort of business here. I made up some business cards on my home computer, but that was it."

I have no intention of setting up a business."

"I'm not a director and I'm not a sole trader. I'm not in business at all."

Limmer said he was not working at the moment and appeared to be enjoying life in Australia.

"The whole family is over here. They've been very supportive.

I absolutely love it. There's delightful weather."

Christchurch's Altherm Aluminium lost more than $100,000 when Perfect Homes failed.

Owner Wayne Eyre said Limmer was always welcome to pay him back what was owed, but was not holding his breath.

"We've written it off but it was very hard at the time. It made us a lot more cautious about who we do business with."

But Limmer said Christchurch creditors had had their "pound of flesh" and there was nothing to stop him going back into business.

"I was made bankrupt but that, of course, doesn't stop me from being involved in business over here."

South Island official assignee Rhys Cain, who oversees bankruptcies, said Limmer's bankruptcy would expire on December 13.

He said, providing the bankruptcy had gone well, and there was nothing to indicate it had not, he would look favourably on Limmer going back into business if he chose to return.

"The underlying philosophy of bankruptcy is to give everyone a second chance," he said.

- NZPA