Fresh bid to liquidate Mosgiel trucking company

An application has been filed to liquidate a Mosgiel trucking company for the second time this year.

Wellington truck parts company Multispares NZ Ltd has filed an application in the High Court to liquidate Titan Bulk Haulage Ltd.

Nelson automotive company Lloyd Heslop Motors tried to liquidate the company in the High Court at Dunedin earlier this year. The matter was settled out of court and was not heard.

Last year, Titan Bulk Haulage - which is owned by Burns Group 2018 Ltd - had its assets repossessed by Kiwi Asset Finance, a wholly owned subsidiary of Kiwibank.

Burns Group also owns Forest Distribution and Logistics Ltd and Otago Excavation Ltd.

The assets included trucks, trailers, forklifts, utes and other machinery.

A report prepared by Kiwi Asset Finance after the repossession, which was publicly available on the Companies Office website, said Titan Bulk Haulage owed the finance company $1.47million.

When contacted, Burns Group co-owner and managing director Malcolm Burns said ‘‘there was no comment’’ because the outstanding debt had been paid. However, the Otago Daily Times understands that is not the case.

Multispares NZ declined to comment. The application will be heard in the High Court at Dunedin on June 2.

riley.kennedy@odt.co.nz

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