Leo Molloy bankruptcy stands

Auckland restaurateur Leo Molloy has failed in a bid to get out of bankruptcy nine months early. The co-founder of Euro Restaurant and Danny Doolan's in Auckland and the Fat Lady's Arms franchise was declared bankrupt in November 2003 owing $1.1 million. That included unpaid tax and penalties of $485,000.

In the High Court at Auckland, Associate Judge Jeremy Doogue said he accepted that Mr Molloy had "had a change of heart".

"He seeks to assure the court that he would not carry on his business in the imprudent way that he ran his business operations in the past."

Mr Molloy told the court in an affidavit that he was "not suited to normal hourly rate work" but the judge said he could find no compelling reason to end the bankruptcy early.