Bankrupt Suzanne Paul ready to pay back $1m debts

Suzanne Paul

The future is looking brighter for entrepreneur Suzanne Paul, and her creditors, with the self-made celebrity seeking an early discharge from bankruptcy after a lot of "bloody hard work".

Ms Paul told the Weekend Herald yesterday that she was finally in a position to fulfil her promise to repay creditors following the rapid collapse of Rawaka, a Maori culture tourism venture in Northcote, in 2004.

She had been declared bankrupt a year ago following the demise of Rawaka, set up in the old Fisherman's Wharf restaurant, which was placed into voluntary liquidation owing over $1 million.

But Ms Paul vowed to pay back her debts and has now begun the formal process of seeking an early discharge from bankruptcy so that can happen.

The English-born saleswoman with her distinctive Wolverhampton accent had successfully launched herself as a household name and television star after arriving in New Zealand by promoting "natural glow" face powders.

History is repeating itself as Ms Paul now credits strong sales of a new bronzing product Radiessence along with a pain relieving electric pen, hair removal gel and a vibrating massage pillow for her comeback.

She helped develop and then market the products on television, in shopping malls, and various retail outlets, for a direct marketing company which was owned by some of her former employees.

While only earning a "basic wage", Ms Paul said she had done well with commissions and after about 18 months of hard slog now had enough money in her bank account to repay her debts.

A deal had been organised so everyone owed money would get it back if the courts agreed she could be discharged from bankruptcy, she said.

Ms Paul said her financial turnaround was the result of "bloody hard work".

"It's a weight off my mind. I've had a horrible couple of years, as you can imagine."

Rawaka liquidator Jeff Meltzer said Ms Paul had indicated to him she had the funds available to repay the company's creditors and he was waiting for confirmation.

Mr Meltzer said it appeared to be excellent news for those owed money.

"It was always what she represented she would do, that's why we kept the [liquidation] open."

The initial liquidator's report had estimated the Rawaka venture was $1,163,500 in the red, owing $482,000 to staff and $326,500 to tradespeople and other creditors, with the remaining amount a loss to Ms Paul and two shareholders.