Bernard Whimp a no-show at liquidation court case after failed delay attempt

Monday, 29 June 2026

Bernard Whimp outside court in February. He was a no-show on Monday.

Troubled businessman Bernard Whimp made a last minute appeal to delay a liquidation action against his companies after trying and failing to use money from his late father’s estate to pay for a lawyer.

It was unsuccessful. Although Whimp was not at court to find out.

The Financial Markets Authority (FMA) has applied to liquidate Whimp’s company Chance Voight Investment Corporation Ltd (CVI) and six subsidiary companies. It said there was reason to believe the companies, which received about $45 million from investors, were insolvent and had breached the Companies Act 1993 and other legislation.

A Range Rover believed to be owned by Bernard Whimp was parked outside the offices of CVI Management Services in Rangiora on Monday

An interim liquidator’s report had found the group was “materially insolvent”. It reported a net deficit of $11.8m and a consolidated loss of $5.5m for the six months to September 2025.

The FMA further argued its case at the High Court in Christchurch on Monday. Before submissions began, Associate Judge Dale Lester addressed, and quickly declined, an adjournment application filed by Whimp at 4.15pm on Friday.

“[It] has simply come too late in the piece,” the judge said, noting Whimp had agreed in February to work to the court’s timetable by engaging counsel and filing defendant’s evidence by March 27.

No evidence was filed. And neither Whimp, nor a lawyer representing Chance Voight was in court.

“Mr Whimp raises issues with access to funding to pay counsel for the companies,” Associate Judge Lester said. “He says access to money from his father’s estate has been frustrated.” Other trustees of the estate had sought a court direction on the issue, the judge said.

“Given the timetable for settlement, Mr Whimp must have known he was having difficulty accessing funds for some months yet his approach to the court for an adjournment came at the eleventh hour.”

The hearing proceeded. Counsel for the FMA Richard May expanded on an interim liquidator’s report from January and other evidence that he said “sadly confirmed” the CVI Group was insolvent.

Whimp in 2021 when he was promoting Chance Voight.

Forensic accounting inquiries showed money received from investors was directly paid out on interest and other obligations. In some cases within a day. Money was also used to meet mortgage interest obligations of property owning subsidiaries, advance funds to meet property project costs and to advance loans to employees. “Extensive activity related to the director’s personal interests” was also evident.

“A company in this position would not continue to trade and certainly would not continue to take on new investments,” May said.

By easy of example, the FMA chose two investors at random and traced the path their money took once invested. In one case, the funds were used to pay another investor; in the other the money was transferred to other entities within the CVI group, including some not part of the current liquidation application. No payments to investment activities were identified.

“We don’t know if they’re the worst examples,” May said.

“[So] effectively, that investors fund was allowed to be treated as income?” the judge asked.

“Yes sir,” May replied.

Whimp had argued the interim liquidators’ conclusions were based on incomplete consolidated accounts, May said, but had not provided more detailed information that might paint a different picture of financial health.

The Press called Whimp to ask why he was not in court. He responded with laughter and said, “Don’t be so silly, all right? I’m not going to discuss anything like that with you.”

Later, he declined to elaborate on accessing funds from his father’s estate, but said he would have engaged counsel if money was available.

“I could afford it, had the corrupt FMA not prevented it,” he said. “Denying me the use of my own assets to defend proceedings like that.” (Whimp is subject to an interim asset preservation order, applied for by the FMA and granted by the court.)

In a letter to investors and shareholders on Monday, obtained by The Press, Whimp said a defence would have cost around $500,000. He would have opposed the action himself if he could, he said, (High Court rules prevent this). He doubled down on his criticism of the FMA.

“I would happily have paid this sum myself in order to prove that most of FMA’s liquidation claims are nonsense, however a corrupt FMA have conspired with others to prevent me from using my own assets to defend the liquidation hearing.”

Richard Peebles, from Invercargill, was one of the few Chance Voight investors present in court. He had driven through the night to attend the hearing and was disappointed Whimp did not show up.

“I would have thought Mr Whimp would have turned up here today to declare his side of the story and back up all the counterclaims.

“He has to put his hand up and say, ‘look, I’ve got a few other rabbits under my hat that I haven't declared’.”

Peebles said he had invested his retirement savings ‒ six figures’ worth ‒ with Chance Voight. After hearing about the company’s predicament in court, he felt “numb”.

“There’s too many spokes in the wheel coming apart.”

Associate Judge Lester reserved his decision.