Michael Garnham avoids bankruptcy

• A former Abel Tasman beach owner has escaped bankruptcy by settling his debts with the Inland Revenue Department.

Michael Garnham was due to appear in High Court on Monday, but the case was withdrawn following settlement.

A bankruptcy hearing on June 30 was adjourned.

This comes just weeks after the Bank of New Zealand (BNZ) filed a notice of discontinuation with the court against Garnham, his father-in-law Michael Spackman, and three companies the pair own, or are associated with.

READ MORE:
* Former Abel Tasman beach owners settle $6.5 million debt to BNZ
* Former Abel Tasman beach owner Michael Garnham selling Fiji island
* Lost the beach, now lost the home
* BNZ seeks mortgagee sale of Abel Tasman beach owner’s $1.6m Wellington home
* Bank of New Zealand chasing Abel Tasman beach owner and others for millions
* Former beach owner could face court order to hand over financial records
* Sams Bay Holdings put in liquidation

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