Graeme Hart lends to twice-bankrupted builder

Billionaire Graeme Hart extended two mortgages to the twice-bankrupted owner of failed Auckland residential property developer, Buildform.

Hart, one of New Zealand’s richest people, also put caveats on six Buildform properties, two of which remain in place.

David Paul Williams, the sole director and shareholder of Buildform, placed the company in liquidation on March 12.

David Williams and his wife, Fiona Tapper, are Hart family friends. Photo / Norrie Montgomery

Liquidators BDO say unsecured creditors owed $2.37 million are unlikely to see anything.

Hart is a secured creditor, with four financing statements registered against the firm.

In April 2024, the billionaire granted a second mortgage behind BNZ over Williams’ Remuera registered address.

The home is jointly owned by Williams’ wife, Fiona Tapper, and a company of which Williams is the only shareholder.

Hart did not respond to requests for comment on what his interest in Buildform is, or whether he is still owed money by the firm.

Read more at BusinessDesk.