Liquidation bid for developer’s companies

Tuesday, 18 March 2025

Andrew Bendemski, previously known as Shane Beecham, heads companies owing $25 million.

Christchurch property developer Andrew Bendemski, a former bankrupt with companies owing $25 million, is now facing a liquidation bid.

Bendemski was behind three planned subdivisions - two in Christchurch and one in Wānaka - which ran into problems leading to receiverships and mortgagee action during 2024.

The company behind one of the receiverships, lender BizCap NZ Ltd, has now applied to have the parent companies behind the developments put into liquidation.

The companies are GCO Group Ltd, and S5 GCO Capital Partnership GP Ltd, both headed by Bendemski. The application will be heard at the High Court in Christchurch on March 20.

The liquidation bid follows the default of a 2023 secured loan made by BizCap Ltd, which lends money to small businesses, often in the form of a second or third mortgages. The loan was secured by corporate guarantees.

Receivership reports show Bendemski’s company Blues Skies GCO Ltd, which owns the 5.5-hecatre Blue Skies subdivision land on Johns Rd in northern Christchurch, has debts of $18.1m.

The vacant central Wānaka land earmarked for the Stoney Creek housing development, foreground.

His company Bowenvale GCO Ltd, which owns 5ha in Bowenvale Valley in Cashmere, owes $5.6m to creditors.

Both the Cashmere property and the site of the Stoney Creek subdivision in Wānaka were put up for mortgagee sale. The sites have a joint market value close to $30m.

A third Bendemski company, engineering consultancy S5 Consulting Group Ltd, is in the hands of receivers and owes creditors $1.3m.

S5 Consulting Group is also the major shareholder, along with another Bendemski company, in The Loxley apartment complex development in Takapuna, Auckland.

An artist’s impression of a completed Loxley Apartments development in Takapuna.

Bendemski was bankrupted in May 2016 under his original name of Shane Beecham, following problems over unpaid personal bills and personal guarantees relating to his Christchurch-based Brix Group of businesses.

He later began using the name Bendemski. After the bankruptcy was discharged, he began property projects mainly in the North Island, but more recently in the South Island.

While his companies remain registered in Christchurch, except for those in receivership, Bendemski now has a central Auckland address.