CEA Trading Ltd, of New Zealand, director Bronwyn Binden said the hospitality company was "buoyant" and the Central Otago bars which it owns were all running at a profit.
"We wouldn't run them otherwise," she said.
The Australian registered CEA Trading Ltd was recently placed into voluntary administration by some shareholders, other than the shared shareholder, Ms Binden said when contacted yesterday.
She acknowledged the similarity of names, shareholder disclosures on the Companies Office website and the Australian voluntary receivership issue had caused confusion for people in New Zealand.
CEA (NZ) owns popular Lake Wanaka waterfront bars the Speight's Ale House and Shooters Bar, along with Queenstown watering hole the Frankton Arm Tavern, within its stable of 22 bars.
In March last year, New South Wales hospitality investor CEA Trading Ltd, of Australia, paid $38 million to buy 27 bars from the New Zealand Hospitality Group, a company formed by former Dunedin men Mike Cates and Ricky Quirk.
CEA Trading Ltd (Australia) then registered as a separate New Zealand company under the same name to run the 27 bar operation - CEA Trading Ltd (of NZ), and had since sold the company on, Ms Binden said.
However, CEA (NZ) still had a minor shareholder, who sold the company to present investors, but otherwise had "no operational input" into running the group and CEA (NZ) was not a subsidiary of the Australian company, she said.
She was asked if the CEA (NZ) company turnover, cash flow, profits or liabilities were related in any way to CEA (Aust).
"No. They are definitely not connected in any way," Ms Binden said.
The New Zealand company had sold five of the 27 bars but would shortly begin looking for more acquisitions in New Zealand, she said.
Otago bars sold from the CEA (NZ) portfolio included the former Sol Bar in Dunedin, Scruffy Murphy's and the Monteith's Trout Bar in Wanaka, and Famous Kelly's Bar and Family Restaurant in Frankton.
A five-year contract with the New Zealand Hospitality Group to manage the bars they sold was terminated earlier this year, she said.
