There is no end to the sad tale of Patrick Fontein. Firstly he took a debt close to $94 million for redevelopment of Kensington Park and failed in it and then he also lost the bankruptcy battle that he applied for in the court.

Because of an application submitted at the High Court at Auckland by BNZ, Patrick became bankrupt and was a liability of $28 million on his head.

BNZ was just one of the 45 creditors that are to get money from Patrick. Most of the money that was borrowed was used for property development in Orewa. Name of some of the most prominent creditors are- Allied Workforce, Carters, Fleet Partners, Fidelity, Orix New Zealand and Southern Cross Building Society.

Ironically, the decision on Patrick came on the same day when his partner, Andrew Krukziener was given more time from the court before his fight against bankruptcy.

Meanwhile, a look at Fonstein's Kensington Park will show that it was fold off to another fellow property dealer, John Sax in 2009. At that time the total money received was $20 million.