Building firm placed into liquidation

A South Island building company has been placed into liquidation following a meeting of its creditors.

In February, Otago Homes Ltd, a franchise of Landmark Homes, was placed into voluntary administration.

Last week, a watershed meeting of creditors — which included building merchants, subcontractors and tradespeople — was held in Queenstown to determine whether to execute a deed of company arrangement, bring the administration to an end, or place the company into liquidation.

Yesterday, a public notice was issued stating the company had been placed into liquidation.

Thomas Lee Rodewald, of Rodewald Consulting, was appointed liquidator.

Landmark chief executive Gary Woodhouse told RNZ in February the franchisee had essentially ‘‘run out of money’’ after struggling with materials and skills shortages in the face of "extreme" housing demand.

Otago Homes had three people on its staff and one director, Andrew Lawrence. At the time Otago Homes was placed into administration, the company had eight builds under way in the Otago region.

The Companies Office listed Otago Homes’ owners as two trusts — Auckland-based Capri Trustee Company Ltd and Tauranga-based Sharp Tudhope Trustee Services No 22 Ltd.

The first liquidation report is due tomorrow.