Good news, bad news for Blue Chip founder

Half the charges against Mark Bryers, the co-founder of collapsed property investment company Blue Chip, have been dropped after missing books and records relating to the case were found in his offices.

But there was bad news waiting for Bryers even before he entered the Auckland District Court yesterday to face 60 charges laid by the Registrar of the Companies Office.

He was served with an order to appear in the High Court for a bankruptcy hearing.

He let the papers fall to the ground and the man who served them said: "Pick it up or do what you like with it, but you have been served, sir."

Mr Bryers entered no plea to the alleged breaches of the Companies Act relating to false statements and the lack of financial books and records for Marinc Ltd, Marinc Development Ltd and 34 other Blue Chip connected companies.

The Weekend Herald reported in February that more than 100 charges had been laid against Mr Bryers for his part in the property company's $80 million collapse. The charges followed a six-month inquiry by the national enforcement unit of the Companies Office.

Sixty charges laid against Mr Bryers were withdrawn by Companies Office investigators. Ministry of Economic Development communications director Kate Camp said they related to missing records and false statements. The missing books were produced only after the charges were laid.

Bryers, 51, is living in Sydney, and running a property investment company similar to Blue Chip.

Yesterday he pleaded not guilty to seven charges relating to his management of the luxury Swordfish Lodge resort on the Whangaparaoa Peninsula.