Ex-rich-lister Jamie Peters entered into a finance agreement on a Mercedes-Benz r500 and was a guarantor for a finance agreement for a Bentley Continental GT during a period when he was unable to pay debts when they fell due, the High Court heard today.
The court also heard that in 2010 the bankrupt's fiancee received $62,000 for a "substantial round-the-world trip" from a company Peters once directed.
Peters, 42, is having his financial affairs probed in the High Court this week, where the Official Assignee (OA) is pushing for him to stay bankrupt for a further three years.
The former property developer was declared bankrupt in October 2009, owing over $100 million.
According to OA lawyer Gareth Neil, Peters told the Crown body at the time he was made bankrupt that he had been unable to pay debts when they fell due from about 24 months before this.