The director of a Canterbury investment company failed to turn up at a High Court liquidation hearing about his businesses.
Rangiora-based Chance Voight Investment Corporation and five of its related entities (CVI Group) face liquidation after the Financial Markets Authority (FMA) took action against the company, with investors potentially facing millions in losses.
However, Chance Voight director Bernard Whimp was a notable absentee at the hearing, and he did not have a lawyer acting on his behalf in court.
Whimp also had a last minute application to delay the hearing rejected by the court.
An interim liquidators’ report found its investors faced a “substantial shortfall” and had a negative net asset position of nearly $12 million.
On…