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High-flier bankrupted

High-profile property developer and racehorse owner Don Ha has been bankrupted.

Friday, August 31st 2012

Ha and his wife Mohini were bankrupted in the Auckland High Court yesterday after action brought by KiwiBank, supported by BNZ, Westpac, ANZ National and the Public Trust.

It was reported that his lawyer asked for a 30-day adjournment of proceedings to try again to reach a creditors’ compromise but the judge rejected the request.

At one point, Ha was featured on the National Business Review Rich List and offered courses teaching others how to follow in his footsteps.

He began developing property in 1994 and had amassed a fortune of $60 million by 2007.

But in 2008 he fell off the rich list and over the past year many of his enterprises have been put into administration.

The Don Ha Training Academy went into liquidation in March.

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