Master Builders has commenced legal proceedings against a Dunedin construction company that has been put into liquidation owing $850,000.
Braemar Building Ltd — formerly Stonewood Homes Dunedin Ltd — was placed into liquidation last month by shareholder resolution.
When approached for comment yesterday, co-director Graeme Sneddon told the Otago Daily Times "you don’t even need to write anything, thanks very much".
After being told a story would be written, Mr Sneddon said "You’re just an a.......
"Righty-ho, thanks, bye".
The liquidator’s first report, released this month, estimated the total shortfall to all creditors was $850,000.
Claims by unsecured creditors were estimated at $500,000 and Inland Revenue Te Tari Taake GST and PAYE were estimated at $350,000.
The company has no connection with the Stonewood Homes Otago franchise, based in Dunedin.
Liquidator Brenton Hunt, of Christchurch-based Insolvency Matters, cited several reasons for the insolvency in his report.
The company suffered from the Covid-19 lockdowns "and sales never climbed back to pre-Covid levels".
"One project had a number of issues and Stonewood Homes took over the build.
"Sales continued to drop with the recession leading to the company being closed down."
Liquidation proceedings had also been commenced against the company by the Registered Master Builders Association of New Zealand.
"The liquidator is not aware of any other legal proceedings involving the company at the date of this report."
The report said the company’s bank account was "in modest funds" at the time of liquidation.
Judith Sneddon is also listed as a co-director of the company, which ceased trading in July.
It was incorporated in July 2008 and had traded as Stonewood Homes Dunedin.
At least 16 Otago-based businesses were listed among the unsecured creditors.
A Master Builders spokesman confirmed they commenced liquidation proceedings against the company "due to outstanding money owed."
