Creditors wait to hear from Peter V

By Karyn Scherer

One of Auckland's prominent PR men is insolvent, after struggling to pay thousands of dollars of outstanding bills.

Former financial journalist Peter Verschaffelt has arranged a meeting with his creditors next month to try to come to an arrangement over what he has admitted is a financial nightmare.

According to a public notice in the New Zealand Herald this week, Mr Verschaffelt has filed a proposal to pay back his creditors under the Insolvency Act.

He was reluctant to discuss the matter yesterday, saying his lawyer's advice was to say nothing.

But last month he told the Business Herald that he was doing his best to pay off his debts after a business deal went sour.

Mr Verschaffelt's problems are believed to be largely due to a television show he made for Sky TV three years ago, called Peter V Live.

Eleven episodes were made, but Sky TV was never paid for the use of its studios. In June, it went to court to try to retrieve $35,658.

It is not the only court judgment against the man who is probably best known for fronting Success, the television series that highlighted some of our top entrepreneurs.

In May, Auckland post-production facility Flying Start Pictures also won a judgment against Mr Verschaffelt, for $17,844.

In May last year, another company, Show Travel, won a judgment for $5167.

The owner of Flying Start Pictures, Tony Vernal, said yesterday: "I quite like the guy, but at the end of the day, you've got to pay the bills."