Luxury car dealership O’Reilly’s Garage in Petone collapsed into receivership on Wednesday, leaving financiers, former clients, and prominent Wellington philanthropist Sir Mark Dunajtschik facing substantial financial exposure after owner Simon O’Reilly reportedly departed for Europe.
Avanti Finance Places O'Reilly's Garage into Receivership
- Avanti Finance placed O’Reilly’s Garage into receivership via BDO on Wednesday, following thirty-six registered financing statements against the company.
- Philanthropist Sir Mark Dunajtschik confirmed he loaned capital to start the dealership in 2018 and is owed a substantial amount of money.
- Property investor Steve Goodey lodged a formal complaint with the MBIE Registrar of Motor Vehicle Traders regarding the handling of a Ferrari Portofino sale.
Receivership Appointed on Hutt Road Showroom
The sudden shuttering of O’Reilly’s Garage on Hutt Road caught creditors off guard as Avanti Finance moved to secure corporate assets through receivers BDO. The dealership’s digital presence vanished alongside its physical operations, with the official Facebook page deactivated and consignment inventory stripped from the site. Commercial real estate agency Bayleys currently promotes the empty high-profile showroom as available for lease.
Public records show the operation is backed by extensive debt. The Personal Property Securities Register documents 36 active financing statements linked to the business. Avanti Finance holds security positions across 29 of those filings, specifically claiming motor vehicle inventory as collateral against outstanding debt.
Philanthropist Faces Substantial Exposure
Sir Mark Dunajtschik acknowledged financial exposure from backing the venture since its 2018 inception. Speaking to rnz.co.nz, the prominent children’s hospital donor stated that O’Reilly had consistently maintained interest payments before obligations stalled. Believed to be residing in Greece, O’Reilly has not answered phone calls or messages directed to him by rnz.co.nz.
Neighbours near O’Reilly’s Khandallah residential property reported seeing moving trucks outside the address approximately a week prior to the receivership announcement. Despite the capital loss, Dunajtschik indicated he would not pursue recovery efforts overseas. A former employee at the dealership declined to comment on the closure when approached.
Financiers Untangle Secured Asset Discrepancies
Secondary lenders face complications regarding asset recovery across financed units. Geoff Kenny, director of the Lower Hutt franchise for MTF Finance, confirmed holding two secured loans with the business. While investigators located a 22-metre Halmatic boat tied to exposure, a financed motorhome remains unreachable.
MTF Finance chose to relinquish claims on the motorhome after verifying that a retail customer purchased the vehicle in good faith. Kenny noted to rnz.co.nz that the asset should not have been sold while encumbered by active lending agreements held with the dealership.
Regulatory Scrutiny Over Consignment Sales
Property investor Steve Goodey raised formal objections with regulatory authorities concerning consignment transactions handled by the dealership. Goodey filed a complaint with the Registrar of Motor Vehicle Traders at the Ministry of Business, Innovation and Employment regarding the sale of his Ferrari Portofino.
Registrar Duncan Connor stated that the agency reviewed an initial complaint lodged in 2024 without identifying statutory breaches under the Motor Vehicle Sales Act. A second formal complaint received this month remains under active assessment by the ministry.
| Entity | Role / Action | Details |
|---|---|---|
| O’Reilly’s Garage | Debtor / Dealership | Placed into receivership on Wednesday; Hutt Road premises listed for lease. |
| Avanti Finance | Secured Creditor | Appointed BDO as receivers; holds security on 29 PPSR filings. |
| Sir Mark Dunajtschik | Private Investor | Provided initial startup capital in 2018; reported substantial outstanding debt. |
| MTF Finance | Secured Creditor | Identified encumbered assets, including a boat and an unrecoverable motorhome. |
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial advice.
