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  • Property Developer Avoids Bankruptcy Again
    Hamish Rutherford
    27/08/2012
    Originally posted by Stuff
    A last ditch attempt by a former high flying Wellington property
    developer to avoid bankruptcy could be derailed by a $5000 debt. David
    Blackmore, the former owner of the James Smith building in central
    Wellington, previously raced luxury cars with porn king Steve Crowe
    and owned a $3.8 million apartment in central Auckland.

    But following the liquidation of the Blackmore Trust by the Inland
    Revenue last year, he has been facing bankruptcy, with personal
    guarantees on loans of around $15.6m. This week he is back in the
    Wellington High Court attempting to delay the process, with signs a
    compromise deal with creditors might be possible.

    Associate Judge Doogue granted an adjournment until September 24, but
    warned Blackmore to act quickly. ''You're living on borrowed time, so
    speed really is of the essence.'' Blackmore replied: I've been on
    borrowed time for some time, Sir.''
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    Comment


    • Originally posted by Perry View Post
      Property Developer Avoids Bankruptcy Again
      Hamish Rutherford
      27/08/2012
      That's one who deserves to go bankrupt. One of the most unpleasant and unscrupulous people my parents had to deal with as commercial tenants of James Smiths.
      Last edited by Lissica; 27-08-2012, 11:26 PM. Reason: grammar and syntax

      Comment


      • Cmon now....Davids one of the very nicest satanist's I've ever met.

        Comment


        • There seems to be a similar outcome for those who purchase many high end cars. Think Serepisos, Blackmore and Fowler (who nearly came undone because of such cars). A lesson?

          Comment


          • They failed to control their egos, and the changing market swept them under their feet.

            Comment


            • Don Ha down

              In 1994 he began developing property in South Auckland, and the high watermark came in 2007 when he made the Rich List with an estimated fortune of $60m. His wealth allowed him to indulge his horse-racing interests and in 2007 he paid a record $2m for a Zabeel colt at Karaka.

              The following year Ha dropped off the Rich List and began a series of ultimately futile court bids to unwind racehorse purchases worth millions of dollars.
              have you defeated them?
              your demons

              Comment


              • Estimated fortune! Probably took assests over liabilities but didn't include potential liabilities which came to fruition

                Comment


                • Hasn't Barry Hart recently lost his near-new Ferrari California?

                  Along with his massive landholding in West Auckland, but I think losing that car would upset me the most.

                  Comment


                  • Originally posted by TheLiberalLeft View Post
                    Hasn't Barry Hart recently lost his near-new Ferrari California?
                    Did he park it somewhere and can't find it or is there more to it?

                    Comment


                    • Property High-Flier Bankrupted
                      Matt Nippert

                      Originally posted by Stuff
                      One-time Auckland property king Don Ha has been bankrupted. The order
                      bankrupting Ha and his wife Mohini was made in the Auckland High Court
                      this morning following action brought by KiwiBank and supported by the
                      Bank of New Zealand, Westpac, ANZ National and the Public Trust.

                      Ha had failed to reach a creditors' compromise in March and his
                      counsel today sought a 30-day adjournment of proceedings to again try
                      to convince creditors to accept a shortfall. Associate Judge John
                      Faire rejected the request. Bankruptcy marks a complete fall from
                      grace for Ha, who at one time was on the National Business Review Rich
                      List, splashed millions on racehorses and planned to open an academy
                      teaching others how to replicate his success.
                      School for whatdrels?
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                      Comment


                      • So lets look on the otherside, Who's making good ground at the moment?

                        Graham Hart?

                        Bob Jones?

                        Who else it still looking golden?

                        Comment


                        • Don Ha Real Estate still has advertising out around South Auckland.

                          Comment


                          • Originally posted by halfempty View Post
                            So lets look on the otherside, Who's making good ground at the moment?
                            The ones you hardly ever hear about, like the Friedlanders.

                            Comment


                            • Bless 'Em All

                              Originally posted by halfempty View Post
                              So lets look on the other side, Who's making good ground at the moment?
                              A moot point. Why does someone have to look golden to get noticed?
                              And then possibly fall victim to tall poppy syndrome? Without too much
                              effort, I can think of quite a few PT Forumite regulars who are quietly
                              going about their business of being a successful PI and a great LL, some
                              of them all the while holding down some other form of "day job" in order
                              to get it all together for their latter years. Some: even sooner!

                              They probably prefer not to be noticed, anyway!

                              Although a bit of an understatement, those 'unsung heroes' are the real
                              golden girls and boys. They just quietly get on with it, quietly succeed,
                              and (hereabouts) also quietly act as shepherds, counsellors, advisers,
                              critics, over-a-coffee/lunch free mentors and guides for those who have
                              rather similar aspirations. A number of my oft-unappreciated fellow Mod-
                              erators are among that golden group.

                              I salute them all - whether they be PT Mods or not. (PT Moderators
                              are held to a higher standard, you understand. )
                              Last edited by Perry; 30-08-2012, 08:16 PM. Reason: fixed error
                              Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

                              Comment


                              • hear hear...
                                have you defeated them?
                                your demons

                                Comment

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