Luxury cars repossessed from high roller over unpaid debts
20 Feb, 2021 04:00 PM
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Gerard Peters has had several cars repossessed by creditors. Photo / Supplied
An Auckland businessman who gained notoriety after his $400,000 Lamborghini was towed because he misused a disabled parking spot has had the luxury car repossessed and sold over unpaid debts. Gerard Peters, 30, hit headlines in 2015 after his $400,000 Lamborghini was photographed in a disabled parking spot at West Auckland shopping complex LynnMall.
While Peters was able to pay that $400 parking fine and reclaim his vehicle, more recent - and substantial - debts have seen that Lamborghini and five other luxury cars he owned seized and sold to satisfy short-changed creditors.
Insolvency numbers plummet but there are still warning signs, expert cautions
31 Jan, 2021 04:00 PM
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There are warning signs that some businesses will come under more financial pressure this year. Photo/ File
Court applications to wind up companies plummeted in 2020, bucking expectations of widespread business failures. But an insolvency expert says there are still warning signs that some companies are in for a tough time this year.
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Wind-up applications dropped nearly 32 per cent from 707 to 481 between 2019 and 2020, figures from the Restructuring Insolvency and Turnaround Association New Zealand show.
Liquidation appointments, which includes both solvent and non-solvent ones was also down while receivership appointments rose only slightly from 105 to 115.
Jailed businessman Steven Robertson s creditors estimated to receive nearly 60 cents in the dollar
21 Dec, 2020 04:46 AM
5 minutes to read
Steven Robertson is currently serving a prison sentence for stealing millions of dollars from his clients. Photo / Jason Oxenham
Creditors for a businessman behind a $10 million Ponzi scheme will likely receive nearly 60 cents in the dollar as his assets are distributed, receivers and liquidators estimate. Steven Robertson was imprisoned last year after being prosecuted by the Financial Markets Authority over conducted at his shares trading company Prosper Through Trading (PTT).
The Auckland man who claimed he was as good as John Key was caught misappropriating millions of dollars from his clients to fund a lavish lifestyle, which included expensive cars and holidays using a private jet.