With
debts in excess of $7.5 million, Peter John Tait-Jamieson was bankrupted after
the High Court cancelled a 2012 court-approved debt restructuring scheme
because of his failure to make promised payments.
Saved from immediate bankruptcy four
years previously by telling creditors he was taking legal action against
Broadlands Finance Ltd for allegedly unpaid director’s fees, Mr Tait-Jamieson
promised to make quarterly payments to creditors in part reduction of money
due. The High Court was told promised quarterly
payments were made on time for the first year, paid late in the second year and
that no payments at all had been made in the last two years.
Inland Revenue, owed some $32,600 for
unpaid taxes incurred prior to 2012, applied to have the scheme cancelled and
Mr Tait-Jamieson bankrupted.
Associate judge Christiansen cancelled
the scheme. Only half the promised
instalment payments had been made, some of them late, and no progress had been
made on the alleged claim against Broadlands Finance, he said. The scheme was cancelled over Mr
Tait-Jamieson’s objections that he should first be allowed to give his side of
the story to creditors. A creditors’
meeting in August 2015 voted to cancel the scheme, but Mr Tait-Jamieson and a
number of creditors received no notice of the meeting having changed adresses.
Inland
Revenue v. Tait-Jamieson – High Court (26.05.16)
16.089