No funds will be available for 35 unsecured creditors claiming almost $600,000 from Steve Rout Contracting Ltd, placed into receivership at Mr Rout's request last year, the receiver's third report says.
The Queenstown civil engineering contracting company was incorporated in August 1995 and ceased trading last May owing more than $11 million to known creditors.
It was placed in liquidation by order of the High Court on August 9 last year.
Craig Melhuish and Keiran Horne, of Christchurch, were appointed as joint and individual liquidators.
The report said between November 3 and May 2 the company received $132,546, including $79,350 from the sale of plant and equipment.
Receivers Stephen Tubbs and Colin Gower, of BDO Christchurch, said plant and machinery and "certain other assets", including a shareholding in a joint venture company, remained to be disposed of.
Last September, the Otago Daily Times reported that as of August last year the company was expected to realise $579,000 - $500,000 from plant and machinery and $79,000 from accounts receivable.
The latest receivers' report said as of July 3 secured creditors included UDC Finance Ltd and Bank of New Zealand, owed a total of $4,116,198.
The only listed preferential creditor was the Inland Revenue Department, owed $603,499.
Included in the $167,318 of payments made in the six months from November was $83,519 for "receiver's remuneration", $4035 as receivers' expenses, $22,904 for fuel and $21,467 in legal fees.
