Discharged from bankruptcy subject to a court order prohibiting him from managing any business until the end of 2022, property developer David Ian Henderson has court approval to now provide consultancy services, but under a very tight leash.
Associate judge Osborne granted Mr Henderson a very limited power to go back into business. He previously rejected eighteen applications by Mr Henderson to resume his business activities prior to 2022. The collapse of Mr Henderson’s property development companies coupled with long-running disputes with both Inland Revenue and Insolvency Service had resulted in the extended ban.
Judge Osborne has allowed Mr Henderson to go into business as a self-employed sole trader offering consultancy services in the construction, land development and hospitality industries. He is not allowed to employ staff or to rent premises. His financial affairs are to be under the control of a financial supervisor, chartered accountant Brenton Hunt. All revenue is to be paid into a bank account controlled by Mr Hunt, with sub-accounts set up for payment of GST and income tax. All consultancy arrangements are to be on terms specified by the High Court in a standard-form consultancy contract. Mr Henderson is required to tell all intending clients of his previous bankruptcies and of the current restrictions on his management of a business.
In his High Court application, Mr Henderson indicated he proposed to use his new-found business freedom to subdivide a 70 acre rural property in the Gibbston valley, central Otago, where he presently lives with partner Katrina Buxton. Judge Osborne put the kybosh on that. He said Mr Henderson was not to act as consultant to any business activity involving Ms Buxton. Their close personal relationship precluded any managerial independence.
re Henderson – High Court (18.05.18)
18.111