Turkish delights for Hanover boss

Eric Watson. Photo / Herald on Sunday

Hanover Finance co-owner Eric Watson is planning to host an exclusive 50th birthday bash in Istanbul, Turkey.

The National Business Review reported that the flamboyant Mr Watson, estimated to be worth $450 million, planned to celebrate his birthday over two days, holding a cocktail party on Friday, April 10, and a dinner and themed party on the Saturday night.

A group of New Zealand guests including lawyers from Chapman Tripp, which advised Hanover Finance on its $554 million restructuring proposal, and Hanover Finance co-owner, Mark Hotchin, are on the invitation list.

Mr Watson's party follows an extravagant 50th birthday party for Mr Hotchin, who hosted guests at Fiji's luxurious Vomo Island resort late last year.

Mr Hotchin's birthday bash was held just days before Hanover Finance debenture holders, owed $455 million, voted in support of the company's restructuring plan that aims to return them their principal, but no interest, over five years.

Mr Hotchin later admitted that the party was a bad look.

In 1999, Mr Watson celebrated his 40th birthday by marrying lingerie model Nicky Robinson and won $485,000 when his filly Grand Archway won the AJC Australian Oaks in Sydney - all on the same day.