Mr Hill helped found the Knights 25 years ago and also built the successful legal firm Turnbull Hill lawyers, but in recent years has operated a business management firm.
He says after giving personal guarantees in support of various property development projects, he was declared bankrupt by the Federal Court a few weeks ago.
He blames the impact of the global financial crisis on the property industry.
"The GFC has had a critical impact on the property industry and these projects were not immune, so as a result a major financial institution has forced me into personal bankruptcy and this has had a flow on effect to other development projects and business activities of mine," he said.
"I deeply regret any losses incurred by investors in these projects."
0 comments:
Post a Comment