In their six-month report, Trevor and Emma Laing, of Laing Insolvency Specialists, said they had spent significant time requesting and reviewing company documents and records.
Investigations were continuing and, at this stage, there had been no assets discovered or other recoveries that would benefit creditors.
KV Ltd, which was incorporated in 2019, was placed in liquidation in May last year owing more than $1.3m to unsecured creditors.
Shares were held by CJS Nominees (owned by Mr Swann) and Mr Swann, who is a former chairman of Waitaki District Health Services and listed cancer diagnostics company Pacific Edge.
An earlier report said two separate developments were undertaken in St Albans, Christchurch, and four townhouse units were developed on each site.
All eight units were sold, the last sale in July 2024 and the company ceased trading in May last year. Mr Swann previously told the liquidators that Covid-19 and the lockdown in 2020 impacted the project.
The liquidators would continue investigations in order to make a decision as to any further action required. It was not practical to estimate a completion date as it would depend on factors that were not able to be determined at this stage, the report said.
