Saturday, October 26, 2024

Bankrupt developer’s plan to repay $131m: start a new firm with mum

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Andrew Bodnar fell into bankruptcy 10 months ago, his Kingdom Developments real estate business owing investors $130 million. But he’s already back in action – with the help of his mother, a naturopath who was sentenced to prison after a baby nearly starved – vowing to make enough money to put things right and “restore his honour”.

His re-emergence has split those he owes, a long list that extends from self-funded retirees to swimming world champion James Magnussen. Some believe he’s a shyster who has coughed up just $250 in a pointless gesture. Others say he’s the victim of ruthless banks that killed the dream.

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