Have your say: Hanover and Mark Hotchin's 50th birthday party

Mark Hotchin invited 80 of his friends for a 50th birthday party on the exclusive Fijian resort of Vomo Island on Saturday night, The Sunday Star Times reported. Hotchin paid for accomodation and the events, the newspaper reported. This was the reaction from Bruce Sheppard, the chairman of the New Zealand Shareholders Association Bruce Sheppard: "Any man who can take $1 billion off the public... and have a bloody birthday party on Fiji should have someone turn up with a set of razor blades." Sources told the Star Times that guests at the weekend-long party paid for their own flights, but Hotchin covered entertainment and accommodation. Rooms at Vomo Island Resort begin at NZ$1,160 a night for a hillside villa and for a private residence can cost almost NZ$7000 a night. Another well-placed source said Hotchin booked "the entire resort" for his party.

Hanover Chief Executive Peter Fredricson told the Start Times he "knew nothing" about the party, but cautioned people on judging Hotchin. "It's a weekend and people do things in that time that is their business," he said "You need to remember that the company is different to the man." Fredricson said Kiwis must acknowledge Hotchin's and Watson's recent offer to inject NZ$96m into a complicated rescue package. "One would imagine people are willing to allow him to have a life knowing he has offered this support." Hotchin and Watson are contributing NZ$10 million in cash and will contribute other assets if needed, although the assets are in their Axis property company which is encumbered by mortgages to both Hanover and various banks, including BNZ and HBOS. Banks need to consent to the use of the assets for the deal to go ahead. Meanwhile the Star Times also reported that Mark Hotchin and Eric Watson had withdrawn more than NZ$200 million in cash from the company since they bought it acquired it, accounts show.

 The bulk of the $204.6m in cash dividend payments and share redemptions occurred in the past two years, with $55.2m extracted in the year to June, and $41.5m the previous year. In those years the shareholders invested $800,000 in Hanover's preference shares.

What I think  Actions speak louder than words for anyone in the public arena. Mark Hotchin has just spent the last week trying to convince 17,000 Mums and Dads to give him another chance to control their NZ$553 million of money for the next 5 years and then return it, without interest. They need to believe he has turned over a new leaf and cares at least somewhat for their plight. The people he borrowed from are largely regular Mums and Dads who don't have 50th birthday parties in Fiji with 80 mates in NZ$1,000 a night villas. Many have had sleepless nights or worse over the loss of a lifetime of savings. This latest display of opulence is an insult. It is salt in the wound. They should vote for receivership. They should trust receiver John Waller and PwC to be more careful with their money than Mark Hotchin. I know I would. But your views? Should we all just butt out of someone's private life? Is this just another tall poppy cutting exercise? Is this his money and we have no right to say how he spends it? Comments below please.