Auckland property developer David Henderson has been declared bankrupt by an order made in the High Court at Auckland.
The order was made by Associate Judge Abbott at 5pm yesterday, after he turned down Henderson's application for an adjournment.
The bankruptcy proceedings were brought by the Inland Revenue Department, which is owed $3.6 million, and the Bank of Western Australia, owed about $33 million.
Proposals by Henderson to avoid bankruptcy were rejected by creditors. He wanted to repay $1.5m, or about 4c in the dollar, of a $130m debt over three years.
His lawyer Daniel Grove said no decision had yet been made on whether he would appeal.
Henderson made his money developing Auckland property projects worth about $1 billion, including Princes Wharf and the high-rise Precinct Apartments near Albert Park.
