Building firm in liquidation

A Dunedin building company which operated for only 12 months went into liquidation owing nearly $170,000, a liquidator’s report says.

Thrive Homes Ltd was placed in liquidation by the High Court at Dunedin in October following an application from unsecured creditor Trademax NZ Ltd.

Trevor and Emma Laing, of Trevor Laing and Associates, were appointed joint liquidators and the pair have released their first six-monthly report.

Campbell David Romeril, of Port Chalmers, was listed on the Companies Office website as the sole shareholder and director of Thrive Homes.

The report found the company owed a total of $167,938, of which $62,463 was owed to Inland Revenue and $101,358 to unsecured creditors.

The remaining amount was for petitioning creditor costs.

The company’s total assets were yet to be established but there was some plant and equipment stored in several locations, the report said.

Investigations into the value of those items and arrangement for collection were continuing.

The liquidators had become aware of several disputes relating to the company and its director’s activities.

‘‘It is clear from initial inquiries that further investigation is required into transactions undertaken by the company,’’ the report said.

It was too early to predict if enough money would be available to make a dividend payment to unsecured creditors. However, the level of preferential debt and the assets available indicated that it was unlikely, the report said.

Mr Romeril was also a shareholder and the sole director of Seaview Cottage Construction Ltd, which was also in liquidation. According to Seaview’s six-monthly liquidator’s report last month, it owed $738,000 to creditors.

The liquidation was expected to be completed within the next 12 months.

Mr Romeril has been approached for comment.





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