True Line was placed in liquidation by special resolution of shareholder, Jaden Melgren, who was also the sole director of the company, on July 25, 2017.
The day before, his wife, Jackie Melgren, was removed as a shareholder.
In his six-monthly report, liquidator Imran Kamal said as at February 25 this year the only receipts from the residential building company was a payment from the shareholder, totalling $23,259.
All of that money had gone on "liquidation fees and disbursements".
At the time of Mr Kamal's last report, in September last year, the shareholder payment was $37,542.
That had also been spent on liquidation fees and disbursements.
Seven preferential creditors, including the Inland Revenue Department (IRD), have filed claims totalling $183,314.25 and 22 unsecured creditors are owed $609,901.21.
"Any prospect of a distribution to the creditors is dependent upon the quantum of the recovery of the overdrawn shareholders account."
The company was incorporated in July 2014 and started in Queenstown and surrounds before expanding to Auckland - at the time of liquidation it had four residential building contracts in Queenstown, Auckland and Great Barrier Island, and staff at all locations.
Mr Kamal's report said the company fell behind with creditors' payments and the IRD and was on stop credit with suppliers and subtrades, which affected the supply of materials and the ability to complete projects.
It ultimately fell behind in its tax obligations and creditors, could not return to a profitable position and did not have the cashflow to trade out.
Mr Kamal had concerns about the manner in which the business was conducted and the "substantial loss" suffered by creditors, but had not yet determined the best course of action to take against Mr Melgren.
He had also yet to issue formal notices on voidable transactions - any earlier payment which might be subject to being paid back.
