High Court Orders Liquidation of Six Chance Voight Companies

The High Court in Christchurch ordered the liquidation of six Chance Voight entities on 24 July 2026. The Financial Markets Authority brought the application. The court found the companies insolvent on both balance-sheet and cash-flow bases.

Associate Judge Lester delivered the judgment after a hearing on 29 June 2026. The application proceeded unopposed because director Bernard Whimp did not appear. The companies had operated under interim liquidation since December 2025.

FMA head of enforcement Margot Gatland said the outcome confirmed the regulator's concerns.

Our primary goal in bringing the liquidation proceeding was to ensure the preservation of investor funds to the extent possible. The court's judgment confirms the FMA's concerns about the management of these companies.

PwC partners John Fisk, Lara Bennett and Malcolm Hollis, now associated with Teneo, were confirmed as liquidators.

Liquidators' Report Details Shortfall

Interim liquidators reported investor funds totalled $54.2 million at the December 2025 appointment date. This comprised $50.4 million in debt securities and $3.8 million in equity.

The group recorded a $5.5 million consolidated loss for the six months to September 2025. It showed a negative net asset position of $11.8 million.

Interest payments and redemptions were largely funded by new inflows rather than investment returns. The structure proved unsustainable.

Governance and Related-Party Concerns

Decision-making centred entirely on Whimp with no independent oversight. Records were inadequate. Significant related-party transactions occurred. No audits took place.

CVI Management Services Limited Partnership collected $9.2 million in management fees over two and a half years. This represented 24 percent of external funds raised by September 2025. Substantial advances flowed to CVI Projects Limited with little or no security. These benefited properties linked to Whimp and his family.

Most investors were aged 65 and over. Many classified as wholesale or exempt investors had limited understanding of the risks.

FMA Investigation Ongoing

The FMA investigation into Chance Voight remains ongoing. In April 2026 the regulator applied to liquidate a further 25 entities. A hearing is scheduled for October 2026.

Asset preservation orders were made against Whimp and Hanmer Equities Limited. A hearing on those orders is set for 17–18 August 2026.

Whimp has a history of FMA warnings dating to 2011. He has previously faced conviction for failing to supply records of a company in liquidation.

Next Steps for Investors

Liquidators continue to receive information from investors and creditors. Queries should be directed to the PwC/Teneo team. The case highlights governance failures and related-party conflicts in New Zealand financial markets.