http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10827501&ref=rss
Bankrupt high-flyer still has his coffee machine
Friday Aug 17, 2012
An Auckland developer whose failed businesses owe more than $100 million has been declared bankrupt – and the only asset owned by one of his liquidated companies is a small coffee machine worth $3500.
Layne Kells, who was declared bankrupt last week, owes millions of dollars because of his failed projects, including the $250 million Soho Square development in Ponsonby.
Most of the money is owed by different liquidated businesses although the debt includes a personal guarantee by Mr Kells of $23 million to Fortress Credit Corporation.
Fortress has been repaid $16.6 million since….”