Matt Bowden Faces Bankruptcy While in Thailand

by San Antonio Attorney

Matt Bowden, dubbed as the godfather of the legal drug industry of New Zealand, is currently facing bankruptcy.

A few months after Bowden moved to Thailand, the Inland Revenue Department filed a case against him.

Bowden revealed that the Inland Revenue made financial proceedings difficult for him, so he had no choice but to accept the bankruptcy.

Stargate Operations, a company owned by Bowden, continues to undergo the liquidation process.  It was put into voluntary liquidation last year, since the government implemented the restriction of selling synthetic cannabis.

Bowden’s business was affected and he could not pay the expenses.  Bowden was even locked out of the laboratory where his synthetic cannabis was produced.

Bowden said that he spent almost two decades collaborating between government, industry and community.  He also created a regulation which provides an alternative for psychoactive drugs.

Bowden added that even though this move attracted commendations at par with UN, the newly created psychoactive industry trampled small businesses in New Zealand and abroad.

But Bowden does not attribute his financial shortcomings to the government.   Bowden admitted that he also has his share of management mistakes as well.

Bownden, also known by his rock alter ego Starboy, left New Zealand to settle in Thailand last June.  Bowden said that he had no choice but to move his family to another country after their home went into foreclosure.

Derek Ah Sam stated that he was informed that the Inland Revenue already started the bankruptcy proceedings against Bowden.

Ah Sam added that he was still in process of recovering a shareholder’s account.

The sale of Bowden’s company assets such as laboratory equipment, the music studio, costumes and prop hire branch aided in paying the debt.  The total estimated debt paid by the liquidation amounted to approximately $229,500.

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