An Auckland property developer who went on an overseas holiday the day after he was bankrupted, owing millions of dollars, will be sentenced next week.
David Stewart Henderson, 58, has pleaded guilty at Auckland District Court to a charge of leaving New Zealand without the permission of the Official Assignee, which is required after being declared bankrupt.
The offence carries a maximum punishment of up to one year in jail or a $5000 fine.
Henderson was declared bankrupt on June 10 last year in the High Court at Auckland over debts of $3.7 million to the Inland Revenue Department.
The former rich-lister flew to Australia the next day without permission from the Official Assignee.
The developer of the Princes Wharf Hilton Hotel project and the Precinct Apartments near Albert Park then flew to Spain where he spent time on a friend's yacht.
