Nigel McKenna battles bankruptcy bid

Nigel McKenna File photo

Auckland property developer Nigel McKenna is in a last-ditch effort to fight off bankruptcy application.

The developer who claims projects worth about $1 billion, wants to put a proposal to his creditors to repay them 1 cent in the dollar over 36 months.

But petitioning creditor The Fletcher Construction Company is opposing that and objecting to McKenna's new deal.

The High Court at Auckland was due today to hear the case.

Simpson Grierson partner Graeme Christie, representing Fletcher, said he only saw the new scheme at 9.20am this morning.

Associate Judge Anthony Christiansen adjourned the case until 2.15pm today.