Dunedin company Monza Zen is being wound up by local businessmen Dr Max Shepherd and Tak Hung in a voluntary liquidation by shareholders and without owing money to creditors.
Late last week Michael Turner of Dunedin accountancy firm Polson Higgs was appointed liquidator of Monza Zen.
Companies Office records show Dr Shepherd and Mr Hung are directors and equal majority shareholders in Monza Zen, which was incorporated in 2002.
The other shareholder is Brian Ridley, of Invercargill.
Contacted yesterday, Mr Turner confirmed the liquidation was voluntary and there were no outside creditors.
"Monza Zen is unrelated to Botry Zen in all respects and is an entirely different business," Mr Turner said.
Dr Shepherd is also chairman of listed Dunedin biotechnology company Botry-Zen Ltd, which has put itself up for sale after shareholders declined a plan to raise $1.8 million, following production problems at its Dunedin manufacturing plant.
The share market has not been updated on the source of the company's production problems since Botry Zen announced in early-August the issue was affecting its manufacturing targets for its grape fungus-fighting products Botry Zen and Armour Zen and would impact on its cashflow.
Botry Zen had spent almost $10 million during the past seven years on its products.
Last week PricewaterhouseCoopers was appointed as an independent adviser to prepare a report on Botry-Zen's financial position and options.
Those options will then be discussed with the Bank of New Zealand, with which Botry Zen is in default of its financial agreements.
