The country's bankruptcy laws were broken by a former harness-racing trainer from New Zealand who bet more than $1.19 million before declaring bankruptcy. But Kerr had committed other offenses as well.
Before declaring bankruptcy, Kerr bet more than $1.19 million on horse and dog races, in violation of the Insolvency Act of New Zealand, in addition to selling the fake horse. The lawsuit claimed that he became insolvent as a result of his excessive gambling.
Before declaring bankruptcy, Kerr bet more than $1.19 million on horse and dog races, in violation of the Insolvency Act of New Zealand, in addition to selling the fake horse. The lawsuit claimed that he became insolvent as a result of his excessive gambling.