The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko - is recommending that investors in Rangiora-based investment company Chance Voight fully inform themselves before providing further funds to Bernard Whimp or any Chance Voight-related person or entity.
FMA Head of Enforcement Margot Gatland said: "The FMA understands Mr Whimp has recently contacted Chance Voight investors about the interim liquidation and has, amongst other things, sought payments which he has described as donations to fund legal expenses.
"The FMA recommends that investors fully inform themselves before providing any funds to Mr Whimp. Those with any queries about their investments (including any communications received from Mr Whimp) should speak with the interim liquidators and seek independent advice from a lawyer or a financial adviser"
Meanwhile, Ms Gatland confirmed the FMA had asked the High Court to place Chance Voight Investment Corporation Limited (CVICL) and a number of related companies into liquidation.
Ms Gatland said this was because the FMA considers there is reason to believe they may be insolvent, the affairs of the group may have been conducted in a manner that breaches provisions of the Companies Act 1993, and that Chance Voight group companies and their director, Mr Whimp, may have breached the Financial Markets Conduct Act 2013 and other financial markets legislation.
Before seeking Court orders the FMA corresponded with Mr Whimp regarding various aspects of the Chance Voight business over a number of months and had issued Chance Voight with four compulsory information request notices under s 25 of the Financial Markets Authority Act 2011. Among other things, the notices sought accounting and financial records. The FMA was not satisfied with the responses to those notices. Based on the information it obtained, including details about the business provided by Mr Whimp, the FMA formed the view that the Group may be insolvent and may be in breach of the legislation referred to above.
The Court will hear the FMA's liquidation application at a date to be confirmed.
Pending the resolution of the FMA's liquidation application, the Court has appointed interim liquidators to CVICL and several related companies at the FMA's request.
The Court initially restricted publication of the reasons for its decision to appoint the interim liquidators. The restriction on publication has now been lifted, subject to continuing suppression of some parts of the decision.
A copy of the decision is available here [254KB] (with the matters still subject to suppression blacked out). A copy of a further decision relating to the interim liquidation appointments is available here [197KB] (again with certain matters that remain suppressed blacked out).
The role of the interim liquidators is to investigate the affairs of the companies and to maintain and preserve their assets pending the Court hearing the liquidation application in the New Year. The interim liquidators must provide an initial report on the affairs of the group to the Court before 5.00 pm, on 26 January 2026.
Asset preservation orders made
In addition to appointing the interim liquidators, the Court has also granted the FMA's application for interim asset preservation orders against Mr Whimp and a subsidiary of CVICL named Hanmer Equities Limited. The asset preservation orders were sought to protect assets pending the outcome of the FMA's ongoing investigation into Chance Voight. The orders in respect of Mr Whimp prevent him from moving assets overseas but do not otherwise prevent him from having access to or using his personal assets.
A copy of the asset preservation orders can be viewed here [3.6MB] (with certain matters that are suppressed blacked out). At this stage, a Court order prohibiting publication of the Court's reasons for making the asset preservation orders remains in place.
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