The sum of less than $8000 already paid to unsecured creditors is likely all they will get from failed Dunedin building company Highland Homes.
In his second report, the company’s liquidator, Rodgers Reidy director Paul Vlasic, said he was at present aware of unsecured creditors totalling $182,818.87.
A partial dividend of $7,949.04 had been distributed.
"It is unlikely that unsecured creditors will receive a further dividend payment upon completion of the liquidation," Mr Vlasic said.
The company was put into liquidation last year when its directors said the Covid-19 pandemic and difficult trading conditions made the company insolvent.
Mr Vlasic’s second report, released earlier this month, said the liquidators identified and took possession of all vehicles and items of equipment owned by the company and sold them at public auction.
The liquidators were continuing to investigate the "books, records and affairs" of the company to identify any actions that might be available for the benefit of creditors, Mr Vlasic said.
However, given the nature of the investigations, he was unable to provide any further information at this time.
A schedule of creditors attached to his report listed more than 63 businesses, organisations, and individuals owed.
In his initial report, Mr Vlasic said an investigation would be done to determine if any insolvent transactions had taken place and if there had been any breaches of legislation.
The follow-up report stated that was still to be investigated.
It also said the liquidators would issue the next report in September, but because of the investigations still under way they were unable to say when the liquidation would be completed.
To date, $32,378.75 in liquidators’ fees have been incurred.
Inland Revenue claimed $20,509.86 in GST refunds, the report said.
