NOTHING VENTURED

Receiver wins ruling over debt.

Spinach Design, a company owned by Kristina Buxton, partner of property developer David Henderson, has failed to have a demand for $12,200 set aside by the High Court.

The demand was made by Robert Walker as the receiver of Property Ventures, the central company of Henderson’s failed business.

The ruling of Associate Judge Rob Osborne, issued on December 21, said the applicant’s case lacked material to support the proposition that there was a genuine and substantial dispute over the existence of the debt.

It appeared from email exchanges of May 5, 2009, that Buxton, the sole director of Spinach Design, had permitted a situation whereby others controlled Spinach’s bank account. ‘‘Furthermore they were using it for the purposes of Property Ventures.’’

The ruling said that in May 2009, a Property Ventures’ officer emailed Henderson, saying: ‘‘Spinach was my last sanctuary for hiding money.’’

Walker filed the email in court to support his claim that $12,200 paid by Property Ventures to Spinach in May 2009 should be repaid.

Property Ventures’ inhouse accountant emailed business development manager Daniel Godden advising him of GST incurred by Spinach and that he was still waiting for the money from Property Ventures.

Godden responded by emailing Henderson, saying the money was for the development of the Minx Restaurant and Bar and that he had been ‘‘left short of $40 k’’ from a GST refund.

‘‘It’s kind of impossible to work with. Spinach was my last sanctuary for hiding money,’’ Godden said.

Henderson replied: ‘‘Noone told me. I will fix.’’

The judge said the timing of the emails gave the ‘‘unavoidable inference’’ that the purpose of the payment was to place Property Ventures’ money with Spinach.

He ordered that the debt be repaid before January 15, otherwise Property Ventures could apply to wind up the company.