David Henderson. Photo / Doug Sherring
Bankrupt property baron David Henderson arrived back in Auckland from his unauthorised Spanish superyacht holiday to be greeted by a stern "please explain" from officials.
Official Assignee David Harte, who is overseeing Henderson's bankruptcy, said the holiday breached the restrictions placed on bankrupts.
"I have found sufficient grounds to refer
the matters to our National Enforcement Unit for a formal prosecution investigation," Harte said.
The travel could be a criminal offence punishable with up to three years' imprisonment and a fine of up to $10,000 under the Insolvency Act.
Henderson, 61, jetted to Spain with girlfriend Alex Scott, 22, for a three-week holiday just days after he was declared bankrupt last month.
Harte has to wade through Henderson's "complex" network of company, personal and trust accounts to try to repay those owed money.
Henderson has debts of $122 million, including $3.6m owed to the Inland Revenue Department and $33m to the Bank of Western Australia.
Public records show his personal debt ranged from a hire purchase agreement with Sleepy Head to a GE Finance loan where a black Mercedes Benz CL500 2000 is listed as collateral.
As a bankrupt, Henderson will be bound by a strict budget for a number of years. Harte said all possessions, except those deemed to be "necessary and not extravagant", would be sold.
Harte said Henderson would be allowed to retain a car worth less than $5000 and could have $1000 at a time.
Gifts given to Scott in the past two years would also come under Harte's scrutiny.
"Whatever isn't secured we sell," Harte said. "It's not an easy thing for anyone to go through."
"There will be a full financial examination of his assets and debts. He has multiple assets and alleged assets," Harte said. "It is enforced. We always make an assessment and make the decision if there's money to be made."
Public records show Henderson did not own any property personally.
His much publicised multi-million-dollar residence on the top floor of Auckland's Hilton hotel is owned by Shed 21 Investments Ltd, a company which lists his son as the sole director.
"If a person wants to live in an expensive waterfront apartment we wouldn't allow it.
"If a bankrupt's friend or relative owned the property and let that person live there rent free that would be okay," Harte said.
