High Court Orders Liquidation of Six Chance Voight Companies
The High Court in Christchurch ordered the liquidation of six companies linked to Rangiora-based Chance Voight Investment Corporation Limited on 24 July 2026 after finding the group insolvent and reliant on new investor funds to meet existing obligations.
Regulation and Markets Conduct Reporter · 24/07/2026 · 17:41 NZT · 6 min read
"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."Margot Gatland, FMA head of enforcement
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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.
Chance Voight: Investor Funds vs Management Fees Extracted
Management fees of $9.2m represented 24% of all external funds raised by September 2025.
Source: Interim liquidators’ report, 26 January 2026 (suppression lifted April 2026)
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.
Chance Voight: Key Proceedings Timeline
Date
Event
10 December 2025
Interim liquidators appointed to six entities; FMA investigation opened
26 January 2026
Interim liquidators’ report filed (suppression lifted April 2026)
April 2026
FMA applies to liquidate further 25 Chance Voight entities
29 June 2026
High Court hearing on liquidation application (unopposed)
24 July 2026
High Court orders liquidation of six entities
17–18 August 2026
Hearing on asset preservation orders (Whimp and Hanmer Equities)
October 2026
Scheduled hearing on liquidation of 25 additional entities
Source: FMA enforcement case page; High Court records
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.
