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Eric Watson is the founder and executive chairman of international private investment company Cullen Investments, now in liquidation owing tens of millions after a string of court defeats. Photo / NZME
Liquidators sifting through the crumbled wreckage of Eric Watsons business empire have instructed lawyers to begin bankruptcy proceedings.
Watson, formerly New Zealands most famous businessman, has suffered a series of catastrophic setbacks in recent years – major court defeats against the New Zealand taxman, wrangles with his former business partner Sir Own Glenn and a live complaint of insider trading from the Securities and Exchange Commission in the United States.
It was the tax dispute – crystalised in 2019 in the High Court that rule…
Read the full article at: https://www.nzherald.co.nz/business/bankruptcy-looms-for-eric-watson/OF63JAUUVNG25GKDQG6YWAOLXQ/