Property guru McEwan bankrupted

Former high-flying developer and self-styled property investment guru Dan McEwan has been bankrupted.

Dozens of small investors in McEwan projects are millions of dollars out of pocket, as one development after another goes to mortgagee sale.

In the High Court at Auckland late last week, McEwan was adjudged bankrupt over a $978,000 debt. Troubled finance company Hanover Finance told the court it was also owed $4 million.

But McEwan's own lawyer had earlier told the Auckland District Court that his 70-year-old client, who claims his only source of income is a pension, owed in excess of $100 million.

McEwan is to be sentenced in the District Court tomorrow for breaching the Securities Act by offering investments without a registered prospectus or investment statement.

To read the full NZ Herald article click here

Posted: 4 Mar 2009

News articles

Browse articles
by date

September 2013

July 2013

June 2013

May 2013

December 2012

November 2012

September 2012

June 2012

April 2012

March 2012

February 2012

January 2012

December 2011

November 2011

October 2011

September 2011

August 2011

July 2011

June 2011

May 2011

April 2011

March 2011

February 2011

January 2011

December 2010

November 2010

October 2010

September 2010

August 2010

July 2010

June 2010

May 2010

April 2010

March 2010

February 2010

January 2010

December 2009

November 2009

October 2009

September 2009

August 2009

July 2009

June 2009

May 2009

April 2009

March 2009

February 2009

January 2009

December 2008

November 2008

October 2008

September 2008

May 2008

April 2008

March 2008

Please disregard these fields.


banner ad