Highlanders general manager Roger Clark, left, and Matt Davey. Davey faces the bankruptcy of his failing ticketing business.
The man behind a bankrupt ticketing company is now embroiled in a contractual legal dispute over his bankruptcy.
Former Dunedin businessman Matt Davey was behind Fortress Information Systems, which traded as Ticket Rocket and was previously known as TicketDirect, before it went into receivership and liquidated in 2020.
Its associated companies – Dash Group and Dash Tickets New Zealand – have also been placed in receivership.
Davey, who moved to Australia before the extent of the collapse was revealed, sought a stay of execution in a judgment obtained by the Bank of New Zealand (BNZ) on July 16, 2021.
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However, no appeal against that judgment has been filed, according to a High Court ruling by Associate Justice Dale Lester, which was made public on Wednesday.
Had a stay of proceedings not been granted, Davey would have been bankrupted in the Federal Court of Australia.
“It is very unsatisfactory that the application for the stay is made at the eleventh hour,” the judge said.
The bankruptcy proceedings had been before the Federal Court since June 23, when a first adjournment was granted. A further adjournment was granted just over a month later.
Due to Davey residing in Sydney, BNZ was granted leave on September 13, 2021 to issue a Notice of Bankruptcy to be issued by the High Court.
Davey was aware of the need for an extended stay, but Judge Lester disagreed that the failure to meet deadlines was due to Davey’s previous lawyers, as his current lawyers had received instructions late april.
Meanwhile, BNZ lawyers have agreed to a deferment of the Australian bankruptcy filing for 10 working days.
“The delay in filing an appeal coupled with the delay in seeking a stay squarely opposes the application,” the judge said.
But it was rejected.
“I feel like the timing of this request was intended to force the court’s hand to grant a stay.”
The company’s problems first emerged after a series of events were canceled or postponed amid the Covid-19 lockdown in April and May 2020, and refund requests spiked.