I don’t want to get into too much detail while there are ongoing investigations, and hopefully even new investigations to be opened.
But todays Herald shows us three different ways of dealing with creditors.
While the massive (at least for Oamaru Timaru) rally in support if the Hubbard family is described as misguided by the Herald editorial and Brian Gaynor properly warns us that regulations not personalities count theirs is a quiet dignity that contrasts with the wide boys currently or formerly based in Auckland.
Rod Petricevich living in a $4.4m home while out on bail on Bridgecorp related charges is being pursued around Auckland by debt collectors chasing the $2.2m transfered to a family trust in order to keep it away from investors. They got the Porsche earlier.
And poor old Mark Hotchin is pulling the $30m currently tied up in his new Auckland home out and staying offshore as is his mentor Eric Watson. Poor guys don’t want to look into the eyes of people who lost nearly half a billion dollars as they ripped tens of millions out of Hanover Finance and partied around the world. And it is still continuing.