Another Steve Rout company failure, another allegation of
assets already sold.
The Rout-associated Blue 9 Ltd - a Christchurch-registered
construction firm whose work included Dunedin's Forsyth Barr
Stadium and a Dunedin City Council roading contract - stopped
trading in January because it could not pay its debts.
A report issued earlier this week by liquidators Wayne
Deuchrass and Iain Nellies, of Insolvency Management, said
the company owed $2.28 million, $1.72 million of which was
owed to secured creditors UDC Finance, Agco Finance, Smartpay
Rental Services and TMC Trailers.
''The liquidators have been advised that all of the company
assets have been sold prior to the date of the liquidation,''
the report says.
Unsecured creditors include Mr Rout's failed company Steve
Rout Contracting, which was placed in receivership in May
2011 amid creditor allegations its assets, including nearly
30 earthmoving and utility vehicles, were transferred to Blue
The liquidators said it was unlikely unsecured creditors -
owed $687,000 - would get any money.
The report says Mr Rout, formerly of Queenstown, is now based
in the Philippines.
Mr Rout is listed as Blue 9's director and shareholder, the
latter with wife Jane as trustees of The Poutama Trust.
-by David Williams