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Bankrupt developer’s plan to repay $131m: start a new firm with mum
Andrew Bodnar’s empire went bust last year, taking self-funded retirees and a champion swimmer down with him. But he’s back in business to clear the massive debt.
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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