Where are these investors now?

[Perry]

Property Developer Avoids Bankruptcy Again
Hamish Rutherford
27/08/2012

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.''

[Lissica]

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.

[halfempty]

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

[partya]

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?

[NovInvestor]

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

[eri]

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.

[Wayne]

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

[TheLiberalLeft]

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.

[Wayne]

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?

[Perry]

Property High-Flier Bankrupted
Matt Nippert

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?

[halfempty]

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

Graham Hart?

Bob Jones?

Who else it still looking golden?

[flyernzl]

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

[flyernzl]

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

The ones you hardly ever hear about, like the Friedlanders.

[Perry]

Bless 'Em All

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. )

[eri]

hear hear...