Archive | 2011

U: The names behind the action, the week to 25 December 2011, part 4

Turn the page: Part 1,  Part 2,  Part 3,  Part 4

 

Contents:

Marine Insurance Brokers closes

Monterey Logistics closes

Receivers exit NZ New Oak, but company in liquidation

International health insurance Interglobal (now O O Holdings) closes

Receivers exit Cooper’s PGRS Developments, but company in liquidation

Hart closes non-trading Quay Equity & Stormwind

Scripts closes

National Mutual’s SG Holdings closes

Salthouse’s SMG Upholstery & Covers closes

Receivers exit Central Otago landholder Sutherland & Edwards Holdings

Team Kiwi Racing faces new liquidation call

Texturr Man faces liquidation

Hepi opens new studio, closes The Hair Room

Receivers enter Jaskiewicz’s The Stainless Corp

Architects’ Tower Design International closes

Khan’s Tower Electrical closes

Trans Otway closes

Valente Coffee Machinery Co (now Mackelvie Street Engineers) closes

Wilkinsons Foodmarket (2004) closes

Names, connections, 2+2

The one item in part 1 of this week’s U column is from a liquidation application before Associate Judge John Faire in the Auckland High Court on Monday 19 December. The following 3 pages have been posted on the website on 27 December.

The U  column is mostly about the down side of business, court-ordered liquidations but also voluntary liquidations, including the closure of solvent companies. Many of the items in the U column are derived from the Auckland High Court’s liquidations lists.

27 December 2011:

Voluntary liquidation: Marine Insurance Brokers closes

Company: Marine Insurance Brokers Ltd

Directors: Brian Gillespie, Browns Bay

Liquidation: 21 December

Solvent: Yes

Liquidators: Karen Mason & Rachel Mason (Meltzer Mason Heath)

Creditors’ claims: 3 February

Other details: Mr Gillespie is a director of Marine & General Insurance Consultants Ltd.

Voluntary liquidation: Monterey Logistics closes

Company: Monterey Logistics Ltd

Directors: Linda Jury, Tuakau

Liquidation: 19 December

Liquidators: John Whittfield (Corporate Solutions & Management Ltd)

Creditors’ claims: 30 January

Other details: Ms Jury is a director of Clifton Phillips Ltd, GFL Transport Ltd & Monterey Logistics 2011 Ltd.

End of receivership: Receivers exit NZ New Oak, but company in liquidation

Company: NZ New Oak Ltd

Directors: Ling Shan, Pinehill

Receivership date: 7 March

Receivers: Boris van Delden & Tony Maginness (McDonald Vague & Partners Ltd)

Appointed by: Yes Finance Ltd

Termination date: 14 December

Other details: The company was wound up on 11 February on Inland Revenue’s application.

Voluntary liquidation: International health insurance Interglobal (now O O Holdings) closes

Company: O O Holdings Ltd (ex-Interglobal Ltd)

Directors: Les Carter, London; Stephen Hartigan & Ockert Oliver, Surrey, UK

Liquidation: 19 December

Solvent: Yes

Liquidators: Philip Judge (HLB Mann Judd Ltd)

Creditors’ claims: 28 February

Other details: The company, an insurance broker & third-party administrator, changed its name on 20 December. It’s a subsidiary of International Health Insurance Services Inc.

End of receivership: Receivers exit Cooper’s PGRS Developments, but company in liquidation

Company: PGRS Developments Ltd (ex-1824 River Road Ltd)

Directors: Glenn Cooper, Manukau

Receivership date: 24 May

Receivers: Malcolm Hollis & Maurice Noone (PWC)

Termination date: 15 December

Other details: Mr Cooper’s Glenn Cooper Ltd was wound up on 4 May, this one & 2 others on 6 May. The company changed its name in 2009. It owned a property at Waipouri Rd, Mangere, which was sold with a shortfall to the mortgagee. Mr Cooper is a director of 15 Wiltshire Drive Ltd (removed from register 26 July), Challenge Earthmoving Ltd, Executive Home Rentals Ltd (resigned 12 October, Stuart Brauninger appointed 22 September), Five Star Homes Ltd, Genesis Homes Ltd, Glenn Cooper Holdings Ltd, GWC Trading Ltd, Holiday Homeshare Ltd (wound up 10 June), Rivercity Ventures Ltd, Solway Construction Ltd, Solway Developments Ltd, Solway Holdings Ltd, Sunset Finance Ltd, Tui Pastoral Ltd (ex-Big Box Public Storage Ltd) & Waylen Financial Services Ltd, and a former director of SBCS Consulting Group Ltd (ex-Coobra Holdings Ltd; Mr Cooper resigned October 2010 and Stuart Brauninger, Manukau, was appointed; Mr Brauninger was bankrupt December 2004-07 and was fined shortly before his automatic discharge from bankruptcy for being a prohibited director and being involved in the management of a company; Mr Cooper took over some of Mr Brauninger’s companies when Mr Brauninger was bankrupted, and both men filed documents relating to the companies which faced liquidation on 6 May).

 

Voluntary liquidation: Hart closes non-trading Quay Equity & Stormwind

Company: Quay Equity Investments Ltd & Stormwind Investments Ltd

Directors: Gregory Cole, Mt Eden; Helen Golding, Sydney; Graeme Hart, Glendowie; & Bryce Murray, Kohimarama

Liquidation: 21 December

Solvent: Yes

Liquidators: Kerryn Downey & William Black (McGrath Nicol & Partners (NZ) Ltd)

Creditors’ claims: 31 January

Other details: Quay Equity is a non-trading subsidiary of Mr Hart’s Rank Group Ltd.He owns Stormwind directly.BPC Holdings Ltd (ex-Rank Group Ltd, which changed its name in 2007) went into voluntary liquidation on 14 December and the group put 7 other non-trading subsidiaries into liquidation on 4 November.

Voluntary liquidation: Scripts closes

Company: Scripts Ltd

Directors: Susan Taylor, Remuera

Liquidation: 16 December

Solvent: Yes

Liquidators: Gareth Hoole (Staples Rodway Ltd)

Creditors’ claims: 30 January

Other details: Ms Taylor is a director of Meadowbank Care Chemist Ltd.

 

Voluntary liquidation: National Mutual’s SG Holdings closes

Company: SG Holdings Ltd

Directors: James Georgeson, St Heliers; Anthony Regan, Orakei; & Therese Singleton, Glendowie

Liquidation: 12 December

Solvent: Yes

Liquidators: David Ruscoe & Richard Simpson (Grant Thornton NZ Ltd)

Other details: The directors are also directors of AMP Services (NZ) Ltd, AMP Superannuation (NZ) Ltd, Axa NZ Ltd, Axa NZ HJV Ltd (ex-Mortgage Express NZ Ltd), Axa Wealth Management Ltd, GWM Spicers Ltd (ex-Gould Wealth Management Ltd), Mortgage Backed Bonds Ltd, Quantum Financial Solutions Ltd & Spicers Portfolio Management Ltd. Mr Georgeson is a director of AMP Life (NZ) Investments Holdings Ltd, Mr Regan is a director of Advicefirst Ltd (ex-Charter Financial Solutions Ltd) & Kiwiplus Ltd, and Mr Regan & Ms Singleton are directors of Allmarg Corp Ltd, AMP/Ergo Mortgage & Savings Ltd & Roost 2007 Ltd.

Voluntary liquidation: Salthouse’s SMG Upholstery & Covers closes

Company: SMG Upholstery & Covers Ltd

Directors: Julie Salthouse, Mairangi Bay

Liquidation: 19 December

Solvent: No

Liquidators: John Price (HPL Partners)

Creditors’ claims: 17 February

Other details: The company provided upholstery manufacturing services to the marine industry generally, and specifically to boat holding companies. Ms Salthouse is a director of numerous boat-specific companies, including Boat 90 Holdings Ltd & Boat 93 Holdings Ltd (both in liquidation March 2010), Boat 89 Holdings Ltd (in liquidation June 2010), Marine Management Holdings Ltd, Salthouse Marine Ltd (in receivership February 2010, in liquidation May 2010), Salthouse Marine Australia Ltd & Salthouse Signature Series Designs Ltd (incorporated 24 November).

End of receivership: Receivers exit Central Otago landholder Sutherland & Edwards Holdings

Company: Sutherland & Edwards Holdings Ltd

Directors: Karenza De Silva & Cecil Edwards, Albany; and Diana & Jason Sutherland, Remuera

Receivership date: 5 July 2007

Receivers: John Cregten & Steve Tietjens (Corporate Finance Ltd)

Appointed by: Pursuant to court order, at the request of the directors

Termination date: 15 December

Other details: The company was the holding company for 2 subsidiaries which were developing several blocks of land in Central Otago, Golden Road Development Ltd & Golden Road Vineyard Ltd. The receivers proceeded with subdivision into 8 lots and sold them for a net return of zero after receivers’, legal & subdivision costs. Ms de Silva & Mr Edwards’ Bigfoot Holdings Ltd was removed from the register in 2008. Mr Edwards is a director of Edcorp Holdings Ltd & Edes Holdings Ltd. Ms Sutherland is a director of Golden Road Holdings Ltd, Golden Road No 1 Ltd, Otacs Ltd, Ryburn Hamlin Ltd & The Frances Management Co Ltd, and a former director of Strathmore Properties Ltd.Mr Sutherland is a director of the Golden Road companies, NZ Surety Corp Ltd, Ryburn Hamlin Ltd, Springvale Water Supply Co Ltd, Strathmore Properties & The Frances Management Co, and a former director of Asset Underwriting (NZ) Ltd.

Application to wind up: Team Kiwi Racing faces new liquidation call

Defendant: Team Kiwi Racing Ltd

Directors: David John, Kohimarama

Applicant: GJ Weck & Sons Ltd

Hearing date: Friday 17 February at 10am

Other details: Team Kiwi Racing settled 2 liquidation applications in early 2011. Mr John is a director of David John Motorsport Trust Ltd (originally called Team Kiwi Racing Ltd, removed from register 2007) and several related companies also removed from the register.

Application to wind up: Texturr Man faces liquidation

Defendant: Texturr Man Ltd

Directors: Angela Devery & Thomas Tootill, Te Atatu

Applicant: Inland Revenue

Hearing date: Friday 27 January at 10.45am

 

Voluntary liquidation: Hepi opens new studio, closes The Hair Room

Company: The Hair Room Ltd

Directors: Angela Hepi, Birkdale

Liquidation: 19 December

Solvent: No

Liquidators: Kirk Richardson (Commercial Business Services Ltd)

Creditors’ claims: 22 February

Other details: The company’s assets were sold in November. Ms Hepi is director of Coco Hair Studio Ltd (incorporated 10 November).

Receivership: Receivers enter Jaskiewicz’sThe Stainless Corp

Company: The Stainless Corp Ltd (trading as Sta-Tec Manufacturing)

Directors: Jan Jaskiewicz, Waiheke Island

Receivership date: 20 December

Receivers: Andrew Grenfell & William Black (McGrath Nicol & Partners (NZ) Ltd)

Other details: Mr Jaskiewicz is a director of Factory Inc Ltd, JZJ Trustee Co Ltd & Stainless Finance Ltd, and resigned from Zeanova Ltd & Zeanova Holdings Ltd on 2 December.

Voluntary liquidation: Architects’ Tower Design International closes

Company: Tower Design International Ltd

Directors: Jon Craig, Upper Hutt; & Gordon Moller, St Marys Bay

Liquidation: 21 December

Solvent: Yes, ceased trading years ago

Liquidators: Shaun Adams & Ian Thursfield (KPMG Ltd)

Creditors’ claims: 8 February

Other details: Mr Craig is a former director of CCM Architects Ltd (ex-Craig Craig Moller (Wellington) Ltd). Mr Moller is a director of Auckland Theatre Co Ltd, Craig Craig Moller Ltd, Gordon Moller Ltd (removed from register 2010) & Moller Architects Ltd, and resigned from Vincent Albert Ltd (ex-CCM Beca Ltd) on 4 November.

Voluntary liquidation: Khan’s Tower Electrical closes

Company: Tower Electrical Ltd

Directors: Fazloor Rauf Khan, Glen Eden

Liquidation: 21 December

Solvent: No

Liquidators: Callum Macdonald (Buchanan Macdonald Ltd)

Creditors’ claims: 16 February

Other details: Mr Khan became a director of his brother Feroz Khan’s Parkhurst Road Developments Ltd in 2010 so property sales could be settled after the bankruptcy of Feroz Khan. The company built 16 shops at Parakai with 6 apartments above but managed only to lease 2 shops at a discount and sell 2 apartments. The liquidator appointed by the shareholders, Clive Johnson (CA Johnson Ltd), said in his first report the Bank of NZ, as first mortgagee, negotiated the sale of several of the properties and Mr Khan agreed to sell the rest to that buyer, which resulted in a $1.5 million loss to the bank. Inland Revenue opposed Mr Johnson’s appointment as an invalid one and he resigned on 20 July.

Voluntary liquidation: Trans Otway closes

Company: Trans Otway Ltd

Directors: Neil Otway, Flat Bush

Liquidation: 20 December

Liquidators: Bryan Williams (BWA Insolvency Ltd)

Creditors’ claims: 27 January

Other details: Big Chill Distribution Ltd took over one of Trans Otway’s big clients in July and its Blenheim branch in September, and has also acquired its Palmerston North warehouse & staff around the country, according to a Blenheim report. Mr Otway is a director of Modern Freighters Ltd, NZ Freightmax Ltd (removed from register 24 August), Refrigerated Freight Lines Ltd & Roadair Ltd.

Voluntary liquidation: Travellers Inn Freehold closes

Company: Travellers Inn Freehold Ltd

Directors: Vinod Sharma, Royal Oak

Liquidation: 20 December

Solvent: Yes

Liquidators: Peri Finnigan & Roy Horrocks (McDonald Vague & Partners Ltd)

Other details: Mr Sharma is a director of Mirchee Television Network Ltd (in liquidation 2007), Mt Roskill Medical & Surgical Centre Ltd, Mt Roskill Property Ltd & Mt Roskill Services Ltd, and a former director of Travellers Inn Ltd & VR Hotels Ltd.

 

Voluntary liquidation: Valente Coffee Machinery Co (now Mackelvie Street Engineers) closes

Company: Mackelvie Street Engineers Ltd (ex-Valente Coffee Machinery Co Ltd)

Directors: Michael Gerbic, Hillsborough

Liquidation: 22 December

Liquidators: John Gilbert (C&C Strategic Ltd)

Other details: The company was an importer & distributor of coffee machines. It changed its name on 27 October and a new Valente Ltd was incorporated on 31 Octobe. Mr Gerbic is a director of Espresso Engineers Ltd, Loud Sound Ltd & Tiocfaidh Ar La Ltd (the last 2 removed from register 2009).

Voluntary liquidation: Wilkinsons Foodmarket (2004) closes

Company: Wilkinsons Foodmarket (2004) Ltd

Directors: Colin Wilkinson, Herne Bay (ex-Kerikeri)

Liquidation: 19 December

Solvent: Yes, shareholders restructuring affairs

Liquidators: Colin McCloy & Richard Agnew (PWC)

Creditors’ claims: 26 January

Other details: Mr Wilkinson is a director of Wilkinson Business Trustee Ltd & Wilkinson Supermarkets Ltd, and a former director of Foodstuffs (Auckland) Ltd.

Turn the page: Part 1,  Part 2,  Part 3,  Part 4

If you want to comment on items in the U column, Go to the forum or send an email to [email protected].

 

Attribution: Public notices, public records, attendance in court, column compiled by Bob Dey for The Bob Dey Property Report.

 

Want to advertise on this page? Call 021 894 858 or email [email protected].

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U: The names behind the action, the week to 25 December 2011, part 2

Turn the page: Part 1,  Part 2,  Part 3,  Part 4

 

Contents:

Albany AZ Liquor Galaxy closes

Al’s Mufflers closes

Ex-Arrow International Group (now Arcus Holdings NZ) closed, new one incorporated

Artifications Interiors closes

Auburn International closes

Benzoni & Turner Catering companies close

Embroidery Manukau company Bombay Blue closes

Cineplex 5 goes from administration to liquidation

Commercial Plumbing closes

Coronet Peak Hotel closes

Culmen Aluminium closes

Yarrows (The Bakers) & subsidiary into liquidation

Hotchin closes DF Forestry & MSH Forests

Don Ha closes 5 companies

Dsquared faces liquidation

Names, connections, 2+2

The one item in part 1 of this week’s U column is from a liquidation application before Associate Judge John Faire in the Auckland High Court on Monday 19 December. The following 3 pages have been posted on the website on 27 December.

The U  column is mostly about the down side of business, court-ordered liquidations but also voluntary liquidations, including the closure of solvent companies. Many of the items in the U column are derived from the Auckland High Court’s liquidations lists.

27 December 2011:

Voluntary liquidation: Albany AZ Liquor Galaxy closes

Company: Albany AZ Liquor Galaxy Ltd

Directors: Sunil Kalluri, Morningside

Liquidation: 16 December

Solvent: No

Liquidators: Pritesh Patel, Papatoetoe

Creditors’ claims: 6 February

Other details: Mr Kalluri sold the business for $9900 2 days before liquidation to settle rent arreas. He’s a director of Gold Liquid Ltd & Subaqa Consultants Pte Ltd.

Voluntary liquidation: Al’s Mufflers closes

Company: Al’s Mufflers Ltd

Directors: James Curham, Waimauku

Liquidation: 21 December

Solvent: No

Liquidators: Derek Ah Sam & Paul Vlasic (Rodgers Reidy, chartered accountants)

Creditors’ claims: 10 February

 

Voluntary liquidation: Ex-Arrow International Group (now Arcus Holdings NZ) closed, new one incorporated

Company: Arcus Holdings (NZ) Ltd (ex-Arrow International Group Ltd)

Directors: Ron Anderson, Mosgiel; Bob Foster & David Spence, Christchurch

Liquidation: 21 December

Solvent: Yes, net assets estimated at $26.4 million

Liquidators: Bruce Gemmell & Rhys Cain (Ernst & Young Ltd, Christchurch)

Other details: The company, changed its name on 10 May and a new Arrow International Group Ltd & Arrow International (NZ) Ltd were incorporated, with 2 extra directors. Arrow International (Australia) Ltd & Arrow International (Pacific) Ltd were also incorporated in May, with Mr Anderson & Mr Foster among 4 directors. Mr Anderson & Mr Foster are the shareholders of the new companies. They’re directors of Apollo Projects Ltd in 2010, Arcus Developments Ltd, Arrow International Ltd, Aspiring Lifestyle Retirement Village Ltd, Capital Lease Ltd, Integrated Building Systems Ltd, Moonlight Property Ltd, Mt Eden Gardens Ltd, Vision 303 Ltd, Vision Development Ltd & Vision Securities Ltd. Mr Anderson resigned from Vision Senior Living Ltd & Waitakere Group Ltd in 2009, Construction Holdings Ltd, Metro Advisory Services Ltd, Spantech Buildings Ltd, Vanguard Capital Ltd & Vision Capital Ltd in 2010, Rotorua Retail Ltd on 25 August. Mr Foster is also a director of Arcus Property Investments Ltd, Doug Hood Mining Ltd, Fraemohs Industries Ltd, Mountain River Processors Ltd, Northbank Station Ltd, Riverside Farm Holdings Ltd, Vision 369 Ltd, Vision Group Ltd, Vision Senior Living Ltd & Waitakere Group Ltd. He resigned from Kingspan Ltd in April. Mr Spence is a director of Arrow International Ltd, Bremca Holdings Ltd, Burdale Holding Ltd, DL Spence & Associates Ltd, NZ Velvet Marketing Co Ltd, Quality Health Care Ltd, Westland Co-op Dairy Co Ltd, and a former director of Harcourts International Ltd & Vision Senior Living.

 

Voluntary liquidation: Artifications Interiors closes

Company: Artifications Interiors Ltd

Directors: Joanne Donovan & Thomas Rupert, Massey

Liquidation: 16 December

Solvent: No

Liquidators: Steven Khov & Damien Grant (Waterstone Insolvency)

Other details: The company ran an interior design business.

 

Voluntary liquidation: Auburn International closes

Company: Auburn International Ltd

Directors: Karen Short, Parnell; Stephen Short, Ponsonby; & Annabelle Wallace, Remuera

Liquidation: 16 December

Solvent: Yes

Liquidators: Michael Clarke (Michael A Clarke Ltd)

Other details: The company operated an importing & distribution business from Newton. Ms Short is a director of Asmodeus Ltd, Blackbird’s Nest Ltd (in liquidation 2006), Eden (2004) Ltd, Intimissima (NZ) Ltd (appointed 14 December), Waitangi Investments Ltd & Zark Trustees Ltd, and is a former director of commercial landlord Kumi Holdings Ltd (ceased trading 2006, in liquidation 2010) & Te Kaha Resort (2011) Ltd. Mr Short is a director of Importex Ltd.

Voluntary liquidation: Benzoni & Turner Catering companies close

Company: Benzoni Catering Kitchen Ltd & Turner Catering Holdings Ltd

Directors: Hazel Turner, St Heliers (both); & Geoffrey Turner, St Heliers (Turner Catering)

Liquidation: 20 December

Solvent: Yes

Liquidators: John Price (HPL Partners)

Creditors’ claims: 17 February

Receivership date: 20 December

Receivers: Damien Grant & Steven Khov (Waterstone Insolvency)

Appointed by: Cornucopia Catering Ltd

Other details: Benzoni (incorporated 31 May) & Turner Catering (incorporated April 2010) ran a cafe & catering business in Parnell. Ms Turner is a director of Benzoni Fine Foods Ltd (in liquidation 2009), FB Catering Holdings Ltd, Fraser Benzoni Kitchen Ltd (in liquidation 2009), Turner Venture Capital Ltd (removed from register 2005), and a former director of Benzoni Catering Ltd. Mr Turner is a director of FB Catering Holdings, Fraser Benzoni Kitchen, Goldie Trustees Ltd, Meynott Trustee Co Ltd, Orakei Catering Co Ltd (in liquidation 28 October), Turners Cafe (Kingston Street) Ltd, Turners Cafe (Newmarket) Ltd, Turners Cafe (Queen Street) Ltd, Turners Cafe (Remuera) Ltd & Turner Venture Capital.

Voluntary liquidation:Embroidery Manukau company Bombay Blue closes

Company: Bombay Blue Ltd (trading as Embroidery Manukau)

Directors: Elizabeth Simpson, Papatoetoe

Liquidation: 22 December

Solvent: No

Liquidators: Chris Horton (Chris Horton Associates Ltd)

Creditors’ claims: 3 February

Other details: The company had an Embroidme franchise.

 

Voluntary liquidation: Cineplex 5 goes from administration to liquidation

Company: Cineplex 5 Ltd

Directors: Dave Fermah,St Marys Bay; & Des Fermah, Whakatane

Liquidation: 14 December, at watershed meeting

Solvent: No

Liquidators: Steven Khov & Damien Grant (Waterstone Insolvency)

Other details: The company ran the local cinema in Whakatane for many years. Mr Khov & Mr Grant were appointed administrators on 9 November. The Fermahs are directors of Albany Property Trust Ltd (Dave only), Body Corporate Trustees Ltd, Cabaret Voltaire Ltd, Deliverme Ltd (Dave only), Easylife Finance Ltd, Easy Life Retirement Housing Ltd, Emmediate Labs Ltd, Entreprop Ltd, Fermah Holdings Ltd, Investment Property Housing Ltd, Investment Property People Ltd, Kiwi Housing Trust Ltd, Kiwi Property Trust Ltd, Loansurf NZ Ltd (Des only), Miro Developments Ltd, Modulock Properties Ltd (Des only), NZ Construction Ltd (Des only), Residential Building & Development Ltd (in liquidation, Des only), Super Coaters Pacific Ltd, Stewart St Ltd, Sunnyvale Property Trust Ltd, Teardrop Explodes Ltd, The Source Ltd, The Source Financial Services Ltd, The Source Sound & Video Stores Ltd, Timfin Pacific Ltd, Tirotiro Rise Ltd & United Codec Networks Ltd (Dave only).

 

Voluntary liquidation: Commercial Plumbing closes

Company: Commercial Plumbing Ltd

Directors: Craig & Morag Rendle, Whitford

Liquidation: 21 December

Solvent: No, business sold and company stopped trading in March

Liquidators: Graham Chapman (Chapmans Chartered Accountants Ltd, Westgate)

Other details: Mr Rendle is a director of Brownzy Holdings Ltd, Hampton Downs Retail Investments Ltd, Quix NZ Ltd, Rendle Management Ltd & Rendle Rodewald Investments Ltd.

Voluntary liquidation:Coronet Peak Hotel closes

Company: Coronet Peak Hotel Ltd

Directors: Roger Dold, Paihia; & David Mercer, Queenstown

Liquidation: 20 December

Solvent: No

Liquidators: Chris McCullagh & Steve Lawrence (PKF Corporate Recovery & Insolvency (Auckland) Ltd)

Creditors’ claims: 20 February

Other details: The company operated the hotel at leased premises in Queenstown from 2006-July 2011. The lease was terminated after a dispute over maintenance. The directors said the company was too reliant on the Koran market, which fell away in 2008, and after the February 2011 Christchurch earthquake numerous bookings were cancelled. Mr Dold is a director of Marine Tourism Holdings Ltd, and a former director of Bay of Islands Travel Centre Ltd, Cruising Auckland Ltd, Fullers Bay of Islands Ltd & Selwyn Properties Ltd. Mr Mercer is a director of Accommodation Management Services Ltd (removed from register 2010) & BDM Enterprises Ltd.

Voluntary liquidation: Culmen Aluminium closes

Company: Culmen Aluminium Ltd

Directors: Leon Venter, Waiake

Liquidation: 20 December

Liquidators: Paul Sargison & John Leonard (Gerry Rea Partners Ltd)

Creditors’ claims: 31 January

Other details: Mr Venter is a director of LCV Projects Ltd (removed from register August).

Voluntary liquidation:Yarrows (The Bakers) & subsidiary into liquidation

Company: Dee Jay Distributors Ltd & Yarrows (The Bakers) Ltd

Directors: Warren Duncan, Sydney (Yarrows); Michael Finnigan, New Plymouth (both); Kevin Gillespie, Milford (both); & Paul Yarrow, Northcote Pt (both)

Liquidation: 19 December

Solvent: No

Liquidators: Andrew McKay & Aaron Walsh (Corporate Finance Ltd)

Creditors’ claims: 14 February

Other details: Westpac NZ Ltd, owed $55.2 million, appointed Brian Mayo-Smith & Andrew Bethell (BDO Auckland Ltd) as receivers of Yarrows (The Bakers), Yarrows Traditional Foods 1923 Ltd & Southern Cross Enterprises Ltd in May. Unsecured creditors were owed another $31.3 million. Yarrows (The Bakers) operated the group’s factory at Manaia in Taranaki and group finances, Yarrows Traditional Foods 1923 was the holding company for about 90% of the shares in the operating company, and Southern Cross owned land, buildings, certain intellectual property and interests in the Yarrow Group’s Australian operations. Dee Jay provided administrative & sales functions to the group. It stopped operating when Yarrows (The Bakers) went into receivership. The secured debt which put Dee Jay into insolvency arose from a guarantee of advances to the parent company. An application to wind up Southern Cross Enterprises went to court on 11 December and was adjourned to 17 February for settlement. Counsel for Southern Cross argued that liquidating the New Zealand operation would reduce the ability of the Australian operations to meet the indebtedness. The receivers said their appointment to Southern Cross Enterprises was necessary to facilitate the sale of the Yarrows New Zealand business. The receivers announced that sale in October, to Yarrows (The Bakers) 2011 Ltd (owned by John & Rosaleen Yarrow). Mr Duncan is a partner in Sydney accountancy firm Duncan Dovico. Mr Finnigan is a director of various Yarrow companies, Eliot Properties Ltd, Kaimata Sawmill (1994) Ltd & NZ Catholic Education Office Ltd. Mr Gillespie is a director of Ezibuy Holdings Ltd, Gilljens Ltd, Goldman Henry Corp Ltd, Matauri Bay Properties Ltd, Max Fashions Ltd, Merenti Ltd, Pipers Operations Ltd, Profile Ltd, Raasay Holdings Ltd, SEC Trading Co Ltd, Skinfood NZ Ltd, The Trinity Foundation Ltd, Trade Finance Ltd and Valentines Restaurant & Bar (NZ) Ltd.

Voluntary liquidation: Hotchin closes DF Forestry & MSH Forests

Company: DF Forestry Holdings Ltd & MSH Forests Ltd

Directors: Mark Hotchin, Palm Beach, Waiheke Island

Liquidation: 20 December

Solvent: No

Liquidators: Tony Maginness & Boris van Delden (McDonald Vague Ltd)

Creditors’ claims: 10 February

Other details: Both companies failed after tax audits. Mr Hotchin, owner of a palatial but unfinished mansion on Paritai Drive, Orakei, had his assets frozen by court order last December on the application of the Securities Commission, confirmed by a further court order this December. Mr Hotchin & Eric Watson headed the Hanover Finance Group, which sold its finance book to Allied Farmers Ltd in December 2009.

 

Voluntary liquidation: Don Ha closes 5 companies

Company: DH Racing Stable Ltd, Diamond Stud Ltd, New Generation Developments Ltd, New Generation Developments No 2 Ltd & New Generation Homes Ltd

Directors: Duong (Don) Ha, Whitford

Liquidation: 20 December

Solvent: No

Liquidators: John Gilbert (C&C Strategic Ltd)

Other details: DH Racing Stable stopped trading 2009. Diamond Stud stopped trading in 2010 and its stock sold at a loss. The New Generation companies’ remaining assets are all subject to specific charges to trading banks, with a loss expected on sale. ANZ National Bank Ltd had Mr Ha’s 21st Century Investment Ltd wound up on 21 October. Kiwibank Ltd lent $7 million to the Don Ha Group and took a general security agreement over Mr Ha’s Don Ha Real Estate Ltd (ex-DH Group Ltd, which was trading as Ray White Manukau and stood as guarantor for the group debt). Tim Downes & David Ruscoe (Grant Thornton NZ Ltd), appointed receivers of Don Ha Real Estate in March, said in May they’d sold the real estate company as a going concern, and its fixed assets, for $1.35 million on 18 April, returning $1.2 million to Kiwibank. The company buying the real estate business was Top One Real Estate Ltd (incorporated 24 March with Mr Ha as sole director and his trust company as shareholder). Mr Ha is a director of Airfield Ltd, DH Homes Trustees Ltd (which settled an application to wind it up last October), Ha & Associates Ltd, Investech Properties Ltd, Kiwi Bakery Ltd, Kiwi Bakery Sylvia Park Ltd, Manukau Bloodstock Ltd, Manukau Property Management Ltd & Rental Solutions Ltd. He resigned from Rental One Ltd on 11 April (Giang Truong Ha, Goodwood Heights, is a director & shareholder).

Application to wind up:  Dsquared faces liquidation

Defendant: Dsquared Ltd

Directors: Duncan Ferens, Northcote Pt

Applicant: Inland Revenue

Hearing date: Friday 27 January at 10am

Other details: Mr Ferens is a director of CBD Cafes Ltd.

Turn the page: Part 1,  Part 2,  Part 3,  Part 4

If you want to comment on items in the U column, Go to the forum or send an email to [email protected].

 

Attribution: Public notices, public records, attendance in court, column compiled by Bob Dey for The Bob Dey Property Report.

 

Want to advertise on this page? Call 021 894 858 or email [email protected].

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U: The names behind the action, the week to 25 December 2011, part 3

Turn the page: Part 1,  Part 2,  Part 3,  Part 4

 

Contents:

Few Items Freddy closes

Fintech receivers exit, but company in liquidation

Yorke closes Force 1 Security

Foreground Software closes

Full Throttle Motor Cycles closes

Russell’s Glen Eden Holdings faces liquidation

Henderson Corp faces liquidation

Hudson’s Holdings Co No 3 closes

Holditt closes

HPVS closes

Hughes & Tuke Construction closes after leaky-homes decision

Repromed NZ & IVF Christchurch (now 1940818) close after business sold

Knowles’ Key Residential closes

Receivers exit Lamborghini (NZ)

Cleavers’ Lebowski Holdings exits receivership, but company in liquidation

Names, connections, 2+2

The one item in part 1 of this week’s U column is from a liquidation application before Associate Judge John Faire in the Auckland High Court on Monday 19 December. The following 3 pages have been posted on the website on 27 December.

The U  column is mostly about the down side of business, court-ordered liquidations but also voluntary liquidations, including the closure of solvent companies. Many of the items in the U column are derived from the Auckland High Court’s liquidations lists.

27 December 2011:

Voluntary liquidation: Few Items Freddy closes

Company: Few Items Freddy Ltd

Directors: Walter Marsters, Ranui

Liquidation: 21 December

Liquidators: Steven Khov & Damien Grant (Waterstone Insolvency)

Other details: Mr Marsters is a director of Tulele Marsters Ltd

End of receivership: Fintech receivers exit, but company in liquidation

Company: Fintech Ltd

Directors: Paul Bayly, city

Receivership date: 1 July

Receivers: Andrew McKay & John Cregten (Corporate Finance Ltd)

Appointed by: Bank of NZ

Termination date: 22 December

Other details: The company was wound up on Cranleigh Strategic Ltd’s application in October 2010. Mr Bayly was a director of Cranleigh Strategic until September 2009 and is the director of Clawton Investments Ltd, a one-third shareholder in Cranleigh. The Bank of NZ appointed Andrew McKay & John Cregten (Corporate Finance Ltd) as receivers of Fintech on 1 July, and the company stopped trading shortly after. The receivers said they’d paid the bank $1.14 million but there was a shortfall to the bank. Mr Bayly is also a director of Dexterity Print Finishers Ltd (removed from register 2006), DPT Ltd, FGL Ltd, North Capital Ltd, Pacific Greetings Ltd (removed from register 2008), Post Script Ltd & The Perfect Binding Co Ltd (removed from register 2000), and a former director of Cranleigh Capital Management Ltd, East Capital Holdings Ltd, Macbay Waste Ltd & Multimail Solutions Ltd.

Voluntary liquidation:Yorke closes Force 1 Security

Company: Force 1 Security Ltd

Directors: Graham Yorke, Papamoa (ex-Avondale)

Liquidation: 20 December

Solvent: No

Liquidators: Kenneth Brown & Paul Manning (RHB Chartered Accountants Ltd, Tauranga)

Creditors’ claims: 7 February

Other details: Mr Yorke told the liquidators competition had forced rates down and the company had lost 2 big contracts. The liquidators have listed pay owing to more than 250 staff on its creditors’ list. Mr Yorke is a director of De’Gray Enterprises Ltd & De’Gray Holdings Ltd (removed from register 24 August).

 

Voluntary liquidation: Foreground Software closes

Company: Foreground Software Ltd

Directors: Peter Hay, Glendowie

Liquidation: 15 December

Solvent: No

Liquidators: Karen Mason & Rachel Mason (Meltzer Mason Heath)

Other details: Foreground Software was a software licensing & support company. Mr Hay is a director of Foreground Development Ltd, Fore Group Auckland Ltd, Foreshore Solutions Ltd & Foreshore Solutions (Australia) Ltd.

Voluntary liquidation:Full Throttle Motor Cycles closes

Company: Full Throttle Motor Cycles Ltd

Directors: Andrew & Michelle Johnson, Tuakau

Liquidation: 16 December

Solvent: No

Liquidators: John Buchanan (Northside Insolvency Ltd)

Creditors’ claims: 20 January

Application to wind up: Russell’s Glen Eden Holdings faces liquidation

Defendant: Glen Eden Holdings Ltd

Directors: John Russell, Kawakawa Bay

Applicant: Tali Galuvao, Mt Wellington

Hearing date: Tuesday 14 February at 10am

Other details: Mr Russell lost a long-running battle with Inland Revenue in 2010, with a High Court judgment against him for $139 million of back taxes, interest & penalties for the period 1985-2000. Mr Russell claimed his earnings were below $300,000, but Inland Revenue claimed that without tax-avoidance arrangements the figure should have been $15.75 million. Mr Russell remains director of a long list of companies, including Commercial Management Ltd & Downsview Nominees Ltd.

Application to wind up: Henderson Corp faces liquidation

Defendant: Henderson Corp Ltd

Directors: James Henderson, Bayswater

Applicant: Body corp 391030

Hearing date: Friday 27 January at 10am

Other details: Mr Henderson is a director of Henderson Holdings Ltd & Soprano Corp Ltd.

Voluntary liquidation: Hudson’s Holdings Co No 3 closes

Company: Holdings Co No 3 Ltd

Directors: Brian Hudson, St Marys Bay

Liquidation: 12 December

Solvent: No

Liquidators: Craig Young (Restructuring Services Ltd)

Creditors’ claims: 20 January

Other details: The company changed its name from Working Capital Solutions Ltd in October and Holdings Co No 2 Ltd on 12 December. Mr Hudson is a director of 53 Greenlane Road Ltd, Bamboo Three Ltd (ex-City Property Holdings Ltd, in liquidation 5 May) & The Crib Ponsonby Ltd, but has resigned from most companies in the City Property Group. Westpac (NZ) Ltd appointed receivers of rent for 4 companies in the group in 2008, until 1 April this year. During that time the bank sold 3 of the company’s City Gardens apartments and the remaining property at 23 Hargreaves St, Freemans Bay.

 

Voluntary liquidation: Holditt closes

Company: Holditt Ltd

Directors: Nicholas Hambly & Anthony Seavill, Oneroa, Waiheke Island; & Matthew Tierney, Murrays Bay

Liquidation: 20 December

Solvent: Yes

Liquidators: Paul Sargison & Simon Dalton (Gerry Rea Partners Ltd)

Other details: The company changed its name from Hold ITT Ltd shortly after incorporation in 2006. It was set up to invest in technology companies and has realised its principal investment. Mr Hambly is a director of 88MM Ltd, Benevolent Princess Futures Ltd, Onitt NZ Ltd & Phoneitt Ltd. Mr Seavill is a director of Callnet Ltd, Onitt NZ, Orange Roughy Futures Ltd & Phoneitt. He resigned from Eco Lighting Ltd on 25 August, Sietec Wholesale Networks Ltd on 27 October. Mr Tierney is a director of Onitt & Phoneitt, and also resigned from Sietec Wholesale Networks Ltd on 27 October.

Voluntary liquidation: HPVS closes

Company: HPVS Ltd

Directors: Denis McFarlane, Pukekohe

Liquidation: 20 December

Liquidators: Victoria Toon (Corporate Restructuring Ltd)

Voluntary liquidation:Hughes & Tuke Construction closes after leaky-homes decision

Company: Hughes & Tuke Construction Ltd

Directors: David Tuke, Takapuna

Liquidation: 16 December

Solvent: No

Liquidators: Digby Noyce (RES Corporate Services Ltd)

Creditors’ claims: 23 January

Other details: The Weathertight Homes Tribunal held in a decision on 21 October that the company was liable, with the Auckland City Council, to the owners of 5 units in an Albany residential development, which rendered the company insolvent. Mr Tuke is a director of Beekist Ltd, Bush Road Office Park Ltd, Ellerslie Investments Ltd, Escapade Charters Ltd, Here We Go Again Ltd, Hughes & Tuke Developments Ltd, Hughes & Tuke Holdings Ltd, Hughes & Tuke Projects Ltd, Katalina Holdings Ltd, Manukau 2 Ltd, Mitchell Consultants Ltd, Morgan Investments Ltd, National Mini Storage Ltd, Nationwide Mini Storage Ltd, Norfolk Apartments Ltd, Northcroft Eighteen Ltd, Oscar Projects Ltd, Oscar Yachts Ltd, Preform Co 482 Ltd, Preform Co 510 Ltd, Rosedale Office Park Ltd, Sale 33 Ltd, Self Storage Ltd, Tahekeroa Ltd, Tawa Drive Office Park Ltd, Union 77 Ltd

Voluntary liquidation:Repromed NZ & IVF Christchurch (now 1940818) close after business sold

Company: 1940818 Ltd (ex-IVF Christchurch Ltd) & Repromed NZ Ltd

Directors: Dr Dwayne Crombie, Remuera; Dr Guy Gudex, Epsom; Dr Richard Henshaw, Adelaide; Dr Gregory Phillipson, Christchurch; & Roger Stables, Adelaide

Liquidation: 16 December

Solvent: Yes, shareholders restructuring affairs after business sold

Liquidators: William Black & Andrew Grenfell (McGrath Nicol & Partners (NZ) Ltd)

Creditors’ claims: 18 January

Other details: The companies sold their fertility services business and IVF changed its name in September. Dr Crombie is a director of Bupa Care Services NZ Ltd, Bupa Retirement Villages Ltd, Repromed Auckland Ltd & Rodney Surgical Centre Ltd. Dr Gudex is a director of Auckland City Surgical Services Ltd, Auckland Gynaecology Group Ltd, Auckland Pelvic Floor Specialists Ltd, Dr Guy Gudex Ltd, Elroy Investments Ltd, GF Holdings Ltd, Repromed Auckland, RFA Ltd & Specialists at 105 Ltd. Dr Phillipson is a director of Greg Phillipson Ltd. Mr Stables headed Repromed Australia, which bought into Auckland & Christchurch fertility services businesses in 2009.

Voluntary liquidation: Knowles’ Key Residential closes

Company: Key Residential Ltd

Directors: Darryl Knowles, Papakura

Liquidation: 19 December

Solvent: No

Liquidators: Arron Heath & Mike Lamacraft (Meltzer Mason Heath)

Creditors’ claims: 31 January

Other details: Mr Knowles is a director of Advantage Residential Ltd (in liquidation 2005) and D&D Residential Ltd (in liquidation 2002).

End of receivership: Receivers exit Lamborghini (NZ)

Company: Lamborghini (NZ) Ltd (trading as Greenlane Exotics & Prestige)

Directors: Gregory Lyne, Remuera

Receivership date: 24 February 2010

Receivers: Kevin Pitfield & Gareth Hoole (Staples Rodway Ltd)

Appointed by: Lyne Enterprises Ltd (Ronald & Ella Lyne, St Heliers)

Termination date: 20 December

Other details: The car dealership closed in 2009. The receivers have agreed to transfer ownership of residual vehicles to Lyne Enterprises in partial settlement after the cars failed to sell at 3 auctions. Mr Lyne is a director of Fastlane Trading Ltd (removed from register 26 July).

End of receivership: Cleavers’ Lebowski Holdings exits receivership, but company in liquidation

Company: Lebowski Holdings Ltd

Directors: Don Cleaver, Grey Lynn

Receivership date: 31 August 2006

Receivers: Neryl Butterworth (Cleaver & Co Ltd)

Termination date: 13 December

Other details: Joint shareholders Valma Downey & Gaye Cleaver were care of Mr Cleaver’s accountancy firm office, the other major shareholder was Michael Wills, Drury, and Ms Butterworth also held a share. The company went into liquidation on 13 September 2006. Among property developments it financed in the 1990s, the first mortgagee & general securityholder called in their debts on 2 at Rukutai St, Mission Bay, & Tarawera Terrace, Kohimarama.

Turn the page: Part 1,  Part 2,  Part 3,  Part 4

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Attribution: Public notices, public records, attendance in court, column compiled by Bob Dey for The Bob Dey Property Report.

 

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U: The names behind the action, the week to 25 December 2011, part 1

Turn the page: Part 1,  Part 2,  Part 3,  Part 4

 

Contents:

Kells meets conditions to fight off 3 companies’ liquidation

Names, connections, 2+2

The first item in part 1 of this week’s U column is from a liquidation application before Associate Judge John Faire in the Auckland High Court on Monday 19 December.

The U  column is mostly about the down side of business, court-ordered liquidations but also voluntary liquidations, including the closure of solvent companies. Many of the items in the U column are derived from the Auckland High Court’s liquidations lists.

19 December 2011:

 

Adjourned liquidation hearing: Kells meets conditions to fight off 3 companies’ liquidation

Defendants: 401 L Ltd (as trustee of the 401 L Trust), LVO Ltd (as trustee of the LVO Trust) & Marlin Property Consultants Ltd (as trustee of the Marlin Property Trust)

Directors: Layne Kells, Grey Lynn

Applicant: Inland Revenue

Adjournment date: Wednesday 15 February at 11.45am

Other details: The applications were adjourned last Thursday for Mr Kells to provide a personal guarantee by Monday, with security registered on all the properties involved in a proposed settlement. Associate Judge Faire also set 2 more adjournment dates, depending on compliance with his orders, the first in February and the second date Friday 16 March, by which time Inland Revenue should have received full payment. The conditions for the first adjournment were met. Mr Kells was the developer of the Soho Square project in Ponsonby, which the receivers sold to Progressive Enterprises Ltd in June. He’s also director of a number of other property development companies, including Campbell Kells Ltd, Campbell Road Developments Ltd, Cape Hill Ltd, Charlotte Street Developments Ltd, Eve’s Trust Ltd, Lanes Evergreen Ltd, Logan Ltd, Marina Ltd, Marlin Group Ltd, Paerata Investment Ltd, Ponsonby Ridge Properties Ltd, Pukekohe East Ltd, Selwyn Mews Ltd, St Martins Freehold Ltd, Takanini Industrial Ltd, Takanini Structure Plan Area 6 Ltd, Whangape Estate Ltd & Zenith Apartments Ltd.

Turn the page: Part 1,  Part 2,  Part 3,  Part 4

If you want to comment on items in the U column, Go to the forum or send an email to [email protected].

 

Attribution: Public notices, public records, attendance in court, column compiled by Bob Dey for The Bob Dey Property Report.

 

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U: The names behind the action, the week to 18 December 2011, part 3

Turn the page: Part 1,  Part 2,  Part 3,  Part 4

Contents:

Babington closes 95 Victoria Street & Homebush Trustees

Appetite for Furniture & Design closes

Gibson closes Ardmore Farms & Glencairn Land

ATZZ Transport closes

Tsengs close old Birkenhead & Milford centre companies

Chevin-related Blake Street Trustee closes

Old Rank Group company BPC Holdings closed

Central Realty (now Ribbon Investments) closes

CFX Trade Safe closes 3 months after SFO investigation starts

Champs Sports NZ closes

Cleanco Stripping off register but faces liquidation call

Dovey Holdings closes

Franchise Catering closes 3 years after receivers enter

Goal Investments closes

Gold Medal Business closes

ACP Media resumes action against In Residence

Names, connections, 2+2

Items in part 1 of this week’s U column are from the Auckland High Court liquidations list on Tuesday 13 December, before Associate Judge Roger Bell. Associate Judge Bell admonished counsel in 2 cases for including costs in statutory demand claims – only the amount due could be claimed, he said. Items in part 2 are from the liquidations list on Thursday 15 December before Associate Judge Tony Christiansen, and also some liquidation applications heard by Associate Judge John Faire on Thursday.

The U  column is mostly about the down side of business, court-ordered liquidations but also voluntary liquidations, including the closure of solvent companies. Many of the items in the U column are derived from the Auckland High Court’s liquidations lists.

18 December 2011:

Voluntary liquidation: Babington closes 95 Victoria Street & Homebush Trustees

Company: 95 Victoria Street Ltd & Homebush Trustees Ltd

Directors: John Babington, Northcross

Liquidation: 95 Victoria Street – 15 December, Homebush – 13 December

Liquidators: Steven Khov & Damien Grant (Waterstone Insolvency)

Creditors’ claims: 11 January

Other details: Mr Babington was named last week as project manager for the Gills Road Village intensive residential development proposed above Albany, in which thrice-bankrupt Peter Chevin is also involved as a project manager. A company of which Mr Chevin was director until his third bankruptcy in 2008, Blake Street Trustee Ltd (trading as The Stonne Trust),went into voluntary liquidation on 13 December, as notice was given of an application to have it wound up in court. 95 Victoria Street was incorporated to be a property developer but didn’t trade, although the central Wellington project – 270 “sleeping studios” on 21 storeys – is still on the Babington Brown website. Mr Babington is a director of Babington Brown & Associates Ltd, Cleveland Power Ltd (removed from register 2007), Comoton Ltd, Comsoft Ltd, Cressmere Holdings Ltd (removed from register 2006), Derby Ltd (in liquidation 2004), Eftpos Specialists (Manawatu) Ltd, Euroswiss International Securities Ltd (removed from register 2006), Hawker Ltd, Homebush Developments Ltd (removed from register 2009), Homebush Finance Ltd (in liquidation 2004), Homebush Lane Ltd, Jueno Ltd, Just Business Ltd, Lagoon Vista Ltd (removed from register 2007), Millenium Finance Group Ltd (removed from register 2007), Net Search Ltd, Nicholson Management Ltd (ex-Eurobond Merchant Finance Ltd, in liquidation 2004), Posabilities Ltd, POS Group Ltd, Retail Cash Systems Ltd, Thor Major Ltd (removed from register 2009), Trans-Pacific Group Ltd (removed from register 2002), Vanguard Property Bonds Ltd (removed from register 2005), Vulcan Ltd, West Mayne Ltd (removed from register 2008), and resigned from Strategic Investment Group Ltd in 2000.

Earlier story, 9 December 2011: Gills Rd intensive residential developer expecting earthworks consent before Christmas

Voluntary liquidation: Appetite for Furniture & Design closes

Company: Appetite for Furniture & Design Ltd

Directors: Andrew McMillan, Avondale

Liquidation: 13 December

Liquidators: Peri Finnigan & Roy Horrocks (McDonald Vague & Partners Ltd)

Creditors’ claims: 31 January

Voluntary liquidation: Gibson closes Ardmore Farms & Glencairn Land

Company: Ardmore Farms Ltd & Glencairn Land Co Ltd

Directors: Kevin Gibson, Tauranga (both); Alan Montgomery, Papakura (Ardmore); Grant Ruddenklau & Andrew Taylor, Dipton, Southland (Glencairn)

Liquidation: Ardmore – 9 December, Glencairn – 12 December

Solvent: Yes, shareholders restructuring affairs

Liquidators: Ardmore – Simon Dalton & Paul Sargison (Gerry Rea Partners Ltd); Glencairn – Malcolm Hollis & Richard McKnight (PWC, Christchurch)

Other details: The late Noel Gibson established Ardmore Farms as an investment company in 1972. A stake in Glencairn was one of its investments. Kevin Gibson is a director of Gibson Holdings (2009) Ltd, Gibson O’Connor Ltd, GOC Properties Ltd, Kaurivale Holdings Ltd, Lunn Properties Ltd, N&M Properties Ltd, Pallantium Properties Ltd & Red Hill Properties Ltd. Mr Montgomery, a lawyer at Lowndes Associates, is a director of Brodick Farms Ltd, Carhart Holdings Ltd, Chenery Contracting Ltd, Davis Properties Ltd, Initio Holdings Ltd, O’Connor Trust Ltd, Queens Arcade Ltd, Ranui Orchardists Ltd & UYA Investments Ltd. Mr Ruddenklau, now of Wanaka, is a director of Kiaora Holdings Ltd, Margaret Place Ltd, Oamaru Enterprises Ltd & Ruddenklau Farming Co Ltd. Mr Taylor is a director of Taylor Farming Corporate Trustee Ltd & Taylor Farms (Southland) Ltd.

Voluntary liquidation: ATZZ Transport closes

Company: ATZZ Transport Ltd

Directors: Abdul Azeem Khan, Mangere

Liquidation: 8 December

Solvent: No

Liquidators: Pritesh Patel, Papatoetoe

Creditors’ claims: 31 January

Other details: The company settled Inland Revenue’s application to wind it up in June. Mr Khan told the liquidator the company didn’t recover from the liquidation in December 2009 of Rapid Road Freighters Ltd, a major debtor. Mr Khan is a director of Abdul’s Truck, Trailer & Vehicle Services Ltd.

 

Voluntary liquidation: Tsengs close old Birkenhead & Milford centre companies

Company: Birkenhead Shopping Centre Ltd & Milford Shopping Centre Ltd

Directors: Tseng Shih Tse, Tseng Tsiun Yih & Tseng Wang Mei-Li, Remuera

Liquidation: 15 December

Solvent: Yes

Liquidators: Grant Hally (RSM Prince)

Other details: The liquidator has written a report on the Birkenhead company and filed it for both companies. It shows the Birkenhead company has net assets of $9.4 million. TY Tseng, from Taiwan, was the developer of both shopping centres & the Formosa golfcourse & country club in the 1990s. The Tsengs are directors of Formosa Auckland Country Club Ltd & Formosa Property Holdings Ltd, and were director of Pine Song Country Club (now Metlife Pinesong Ltd). NZ Retail Property Group Ltd (Mark Gunton & Bryce Donne) acquired both shopping centres and is working on intensification plans for the Milford centre.

Voluntary liquidation: Chevin-related Blake Street Trustee closes

Company: Blake Street Trustee Ltd (trading as The Stonne Trust)

Directors: Peter Hill, Ellerslie, appointed 7 August 2008, when Peter Chevin, Newmarket, resigned

Liquidation: 13 December

Applicant for court-ordered liquidation: Ginnaya Turner

Hearing date: Friday 3 February at 10am

Liquidators: Steven Khov & Damien Grant (Waterstone Insolvency)

Creditors’ claims: 9 January

Other details: Mr Hill is a director of Hunter Gills Road Ltd, one of the companies involved in the proposed development of the Gills Road Village at 125 Gills Rd, Albany, for which commissioners rejected stage 1 consent on 29 October. However, that decision didn’t refer at all to land use & earthworks consents or to the stormwater discharge permit and, after an appeal, the developers expected to get a partial consent enabling earthworks to start on Wednesday 21 December. Mr Chevin is also involved in the project management. Mr Hill has acted as project manager for Mr Chevin’s Stonne Trust and director of several of his companies after Mr Chevin was bankrupted. Mr Chevin – developer of the slim Columbard (now Formule 1) suites hotel on Wyndham St in the cbd – is listed as project manager for Hunter Capital Ltd. He was adjudicated bankrupt for the third time on 18 November 2008, which made him eligible for automatic discharge 3 years after he submitted a statement of affairs unless the Official Assignee or a creditor had an objection. He remains listed as bankrupt . His 4-year ban as a company director ends on 8 February 2012.

9 December 2011: Gills Rd intensive residential developer expecting earthworks consent before Christmas 

20 November 2011: Commissioners reject intensive Gills Rd development

Voluntary liquidation: Old Rank Group company BPC Holdings closed

Company: BPC Holdings Ltd (ex-Rank Group Ltd)

Directors: Gregory Cole, Mt Eden; Allen Hugli, Epsom; & Bryce Murray, Kohimarama

Liquidation: 14 December

Solvent: Yes

Liquidators: Brendon Gibson & Grant Graham (KordaMentha Ltd)

Creditors’ claims: 12 January

Other details: The company, owned by Graeme Hart & Rank Commercial Ltd, changed its name in 2007 and another Hart company took over the name.

Voluntary liquidation: Central Realty (now Ribbon Investments) closes

Company: Central Realty Ltd (now Ribbon Investments Ltd)

Directors: Neil O’Connor, Karaka

Liquidation: 12 November

Solvent: No

Liquidators: John Whittfield (Corporate Solutions & Management Ltd)

Creditors’ claims: 10 January

Other details: The property management company, based in Remuera, changed its name on 10 November. Its failure was blamed on fraud by an employee and a downturn in business. Central Realty’s Mairangi Bay franchise is separately owned & operated. Mr O’Connor was a director of One Tree Hill RealtyLtd,whichheld a Re-Max franchise and got into a dispute with Re-Max Group (NZ) Ltd in 2009, which it lost, resulting in its liquidation in July 2009.Mr O’Connor incorporated Central Realty in April 2009, shortly before the Re-Max dispute went to court. Mr O’Connor is director of Jasmic Properties Ltd (ex-Olsen & Everson (Greenwoods Corner) Ltd) & Rent Your Home Ltd (incorporated 31 May).

 

Voluntary liquidation: CFX Trade Safe closes 3 months after SFO investigation starts

Company: CFX Trade Safe Ltd (as corporate trustee of CFX Trade Trust)

Directors: Christopher & Joy Collecutt, Te Atatu South; & Maynard Williams, Schnapper Rock

Liquidation: 13 December

Solvent: Yes

Liquidators: Glen Gernhoefer & Vivian Fatupaito (WHK Ltd)

Creditors’ claims: 17 January

Other details: The company, a foreign exchange trading business, paid all funds held on trust to investors in August, when it stopped trading. The liquidators said Government agencies were investigating the conduct of directors in relation to investor losses. The Serious Fraud Office said in September it had started an investigation into CFX, which was based in Whangarei and traded foreign currency on behalf of an estimated 50 clients in New Zealand & overseas. SFO acting director Simon McArley said in September: “It appears that, at some point, the company suffered a major financial loss and we suspect that falsified documents may have been used in an attempt to hide this information from investors.”

Voluntary liquidation: Champs Sports NZ closes

Company: Champs Sports NZ Ltd

Directors: Edward Ellington, Unsworth Heights; & Mark Hoddle, Parnell

Liquidation: 9 December

Solvent: No

Liquidators: Chris McCullagh & Steve Lawrence (PKF Corporate Recovery & Insolvency (Auckland) Ltd)

Creditors’ claims: 9 February

Other details: The company supplied sporting goods to the wholesale & retail markets but faced increasing competition in the downturn, including direct supplies to retail customers by its own suppliers. Mr Ellington is a director of Atlas World Class Ltd, Elcor Systems Ltd & Megabyte Computers Auckland Ltd. Mr Hoddle is a director of Sumar Investments Ltd and a former director of Virtuoso Landscape Design Ltd.

Application to wind up: Cleanco Stripping off register but faces liquidation call

Defendant: Cleanco Stripping Ltd

Directors: Ronald Anthony Macdonald, Waiwera

Applicant: Holt Family Trust

Hearing date: Friday 27 January at 10am

Other details: The company was removed from the register on 24 August. Mr Macdonald is a director of Border Safe Ltd (removed from register 27 October), Cleanco Finance Ltd, Cleanco Truckwash Ltd, Fumelok International Ltd (removed from register 2008), Tony Macdonald Ltd & Vehicle Wash Systems Ltd.

Voluntary liquidation:Dovey Holdings closes

Company: Dovey Holdings Ltd

Directors: Praveen Prasad, Grey Lynn

Liquidation: 8 December

Solvent: No

Liquidators: Pritesh Patel, Papatoetoe

Creditors’ claims: 31 January

Other details: Mr Prasad is a director of 2/733 Remuera Road Ltd, Great North Investments (NZ) Ltd, Guardian Construction Ltd & Topline Import & Export Ltd.

Voluntary liquidation: Franchise Catering closes 3 years after receivers enter

Company: Franchise Catering Ltd

Directors: Rod Cameron, Parnell

Liquidation: 12 December

Solvent: No

Liquidators: Kevin Gillespie (Merenti Ltd)

Creditors’ claims: 20 January

Other details: The Bank of NZ appointed Stephen Tietjens & Peter Chatfield (Accru Smith Chilcott Ltd) as receivers of Franchise Catering Ltd, Guston Investments Ltd, Michel’s Patisserie NZ Ltd & Michel’s Patisserie Holdings Ltd in October-November 2008, shortly after Antoun Safar resigned as a director of Franchise Catering, which had been set up to take over his patisserie business from Michel’s Patisserie. Mr Cameron is a director of House & Land Packages Ltd (incorporated 16 September), Kerikeri River Estate Ltd, Optum Homes Ltd (incorporated 31 August), Orfel Ltd, Oropi Road Farm Estate Ltd, Quicksand Resources Ltd & Rodel Corp Ltd, and a former director of Geneva Investments Ltd, Kiwifruit Marketing NZ Ltd & Mirage Holdings Ltd.

 

Voluntary liquidation: Goal Investments closes

Company: Goal Investments Ltd

Directors: Alison & Owen Kemp, Papakura

Liquidation: 13 December

Liquidators: Murray Couper (Elliott Street Accountants Ltd)

Other details: The Kemps are directors of Enhance Automotive Ltd.

Voluntary liquidation:Gold Medal Business closes

Company: Gold Medal Business Ltd

Directors: Jerome Hartigan, Palm Beach, Waiheke Island

Liquidation: 13 December

Liquidators: Patricia van der Wende & Mark Norrie (Norrie & Daughters Ltd)

Creditors’ claims: 25 January

Application to wind up: ACP Media resumes action against In Residence

Defendant: In Residence Ltd

Directors: Stephan Marshall, Epsom

Applicant: ACP Media Ltd magazine division

Hearing date: Friday 27 January at 10.45am

Other details: When ACP Media’s application to wind In Residence up was called in August, the court was told the company had paid the debt before the first call. Mr Marshall is a director of Acquello Ceramics Ltd & Hawthorn Hill Ltd.

Turn the page: Part 1,  Part 2,  Part 3,  Part 4

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Attribution: Public notices, public records, attendance in court, column compiled by Bob Dey for The Bob Dey Property Report.

 

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U: The names behind the action, the week to 18 December 2011, part 4

Turn the page: Part 1,  Part 2,  Part 3,  Part 4

Contents:

Property spruiker Letfus bankrupt on creditor’s petition, not own declaration

Ex-Evolution Roasters & ex-Roasted Addiqtion close

IRD pursues Peters’ Matapia Holdings

McCormack Asphalts Auckland 2007 faces liquidation

MT Box Movers faces liquidation

Receivers follow liquidators into NZNet Internet Services

NZ Switchboards & Refrigeration Electrics exit receivership

Parnell Property Investments & St Stephens Investments liquidators contest new receivers’ approach

Picture Shop & Richardson close

Rex International closes after agency rights sold

NZ Rugby League closes holding company

Sardar Cabinet Design faces liquidation

Simon Farrell company closes

South East Trustee closes

SVT Builders closes

Tranquillo closes

Names, connections, 2+2

Items in part 1 of this week’s U column are from the Auckland High Court liquidations list on Tuesday 13 December, before Associate Judge Roger Bell. Associate Judge Bell admonished counsel in 2 cases for including costs in statutory demand claims – only the amount due could be claimed, he said. Items in part 2 are from the liquidations list on Thursday 15 December before Associate Judge Tony Christiansen, and also some liquidation applications heard by Associate Judge John Faire on Thursday.

The U  column is mostly about the down side of business, court-ordered liquidations but also voluntary liquidations, including the closure of solvent companies. Many of the items in the U column are derived from the Auckland High Court’s liquidations lists.

18 December 2011:

Bankruptcy: Property spruiker Letfus bankrupt on creditor’s petition, not own declaration

Bankrupt: Dean Letfus, Pakuranga (now Tavua, Fiji)

Adjudication date: 8 December

Other details: Property spruiker Mr Letfus was quoted at the end of November as having declared himself bankrupt following the liquidation of 7 of his companies. However, his bankruptcy came through a creditor’s petition on 8 December. Mr Letfus closed the companies after Westpac NZ Ltd called in its mortgages.

Earlier story, U: The names behind the action, the week to 13 November 2011, part 3Property spruiker Letfus forced to close 7 companies

Voluntary liquidation: Ex-Evolution Roasters & ex-Roasted Addiqtion close

Companies: Macaulay ER Ltd (ex-Evolution Roasters Ltd) & Macaulay RA Ltd (ex-Roasted Addiqtion Ltd)

Directors: Andrew Brodie, Kingsland (both); & Donald Brodie, Howick (Evolution Roasters)

Liquidation: 12 December

Solvent: Yes, shareholders restructuring affairs

Liquidators: Colin McCloy & Richard Agnew (PWC)

Creditors’ claims: 13 January

Other details: The Brodies are directors of Macaulay EVC Ltd (ex-Evil Child Beverage Co Ltd), placed in liquidation on 7 November. Donald Brodie is a director of Karaz Ltd, Trio Group Ltd & Trio Print Management Holding Ltd.

Application to wind up: IRD pursues Peters’ Matapia Holdings

Defendant: Matapia Holdings Ltd

Directors: Jamie Peters, Pt Wells

Applicant: Inland Revenue

Hearing date: Friday 27 January at 10.45am

Other details: Mr Peters was bankrupted on Marac Finance Ltd’s application on 6 October 2009. BOSI Security Services Ltd appointed Tim Downes & Richard Simpson (Grant Thornton Auckland Ltd) as receivers of Matapia & 2 other Peters companies, Gulf Corp Ltd & Gulf Corp No 1 Ltd, on 3 December 2009. BOSI (a subsidiary of Halifax Bank of Scotland) was owed $118 million and Hanover Finance Ltd (subsequently Allied Farmers Investments Ltd) $37.8 million. The companies’ properties have been sold, subject to Overseas Investment Office approval. 7 ex-Peters companies (with Michael Skates now the director) were wound up in November City West Ltd, EOQ (Concurrent Lease) RC Trustco Ltd, EP DM Ltd (ex-Equity Pacific DM Ltd), Grasmere Station Ltd, Sofitel Queenstown Lessors RC Trustco Ltd, Tapora Investment RC Trustco Ltd & Union Nelson (Freehold) RC Trustco Ltd (as trustee of the Union Nelson (Freehold) JP Trust) – and an eighth, Mars EQD Ltd (ex-East On Quay Developments Ltd), was wound up on Thursday, 15 December. Apart from Gulf Harbour, Mr Peters worked on development at Quay Park & the former Cook St council depot. The freehold interest in the Cook St site (part of it called Rhubarb Lane) was sold at mortgagee auction in 2008 for $43.5 million, with the backing of Westpac NZ Ltd for the consolidation. Tenders for the consolidated site closed on Wednesday and the outcome may be known next week.

 

Application to wind up: McCormack Asphalts Auckland 2007faces liquidation

Defendant: McCormack Asphalts Auckland 2007 Ltd

Directors: Vinh Ngoc Nguyen & Phoung Thi To, Botany

Applicant: Law firm Brookfields Lawyers

Hearing date: Tuesday 24 January at 10am, Wellington

Application to wind up: MT Box Moversfaces liquidation

Defendant: MT Box Movers Ltd

Directors: Darrell & Diana Petera, Manurewa

Applicant: Inland Revenue

Hearing date: Friday 27 January at 10am

Other details: The Peteras are directors of Petranz Ltd (wound up 2009 after selling its business to this new company).

Receivership:Receivers follow liquidators into NZNet Internet Services

Company: NZNet Internet Services Ltd

Directors: Stephen Andrews, Albany

Receivership date: 13 December

Receiver: Victoria Toon (Corporate Restructuring Ltd)

Other details: Steven Khov & Damien Grant (Waterstone Insolvency) were appointed liquidators on 17 November. Mr Andrews is a director of Caprica Ltd, Engini Ltd, Horizon Pacific NZNet Ltd (removed from register 26 July), NZNet Holdings Ltd, The Discount Warehouse Ltd (removed from register 2007) & Tier 6 Holdings Ltd, and a former director of Layer 2 Co Ltd.

End of receivership:NZ Switchboards & Refrigeration Electrics exit receivership

Company: NZ Switchboards Ltd & Refrigeration Electrics Ltd

Directors: Jeffrey & Kristin Blake, Tuakau

Receivership date: 30 September

Receiver: John Gilbert (C&C Strategic Ltd)

Appointed by: Working Capital Solutions (NZ) Ltd

Termination date: 13 December

Other details: John Whittfield (Corporate Solutions & Management Ltd) was appointed liquidator on 28 October. The Blakes are directors of Amovita Beauty Salon Ltd, NZ Trade Supplies Ltd (removed from register 2007) & Portland Enterprises Ltd, and Ms Blake is also director of Creative Minds Ltd.

Receivership: Parnell Property Investments & St Stephens Investments liquidators contest new receivers’ approach

Company: Parnell Property Investments Ltd & St Stephens Investments Ltd

Directors: Stephen Osborn, Kohimarama

Receivership date: 3 October

Receivers: Robert Walker and Gilbert Dale Chapman 2/166 Henderson Valley Road Henderson

Appointed by: Compark Properties Ltd & Fifer Residential Ltd

Other details: Mr Osborn put Parnell Property Investments& Aries Holdings Ltd into liquidation on 31 March, appointing Craig Young & Raymond Burgess (Restructuring Services Ltd) as liquidators, and a related company, St Stephens Investments Ltd, was wound up on 2 February. The Parnell & Aries liquidators were replaced on 15 April by Digby Noyce & Keith Mawdsley (RES Corporate Services Ltd, also liquidators of St Stephens), who said in their 6-monthly report last month they were investigating how Parnell Property Investments granted a general security agreement in favour of Fifer & Compark, and the alleged setting off of rent due from Fifer against consulting fees charged by Paul Alexander. The liquidators said in their report they intended to apply to the court to set aside the security under which the receivers were appointed on the grounds that it was voidable. Parnell Property Investments & St Stephens Investments own a house at 43-47 St Stephens Avenue, Parnell, with a $10.1 million BNZ first mortgage on it. The companies have disputed the mortgage amount. Mr Alexander was bankrupted a second time in July 2004, discharged in May 2009.

Voluntary liquidation: Picture Shop & Richardson close

Company: Picture Shop Ltd & Richardson Ltd

Directors: Stephen Andrew Richardson, St Heliers (both); Stephen Thomas Richardson, Royal Oak, (Richardson Ltd)

Liquidation: 14 December

Solvent: No

Liquidators: Karen Mason & Rachel Mason (Meltzer Mason Heath)

Creditors’ claims: 27 January

Other details: Picture Shop ran a second-hand camera shop which stopped trading in 2006 after its stock of classic film cameras became obsolete. Richardson ran a fashion & gifts shop which stopped trading in 2008.

Voluntary liquidation: Rex International closes after agency rights sold

Company: Rex International Ltd

Directors: Peter Hernon, Remuera

Liquidation: 9 December

Solvent: Yes

Liquidators: Simon Dalton & Paul Sargison (Gerry Rea Partners Ltd)

Other details: The company was an importer of generic pharmaceuticals, but sold the rights to the agency and ceased trading. Mr Hernon is a director of Jubilee Forests Ltd, Rex Medical Ltd, Rex Medical Holdings Ltd, and resigned from RLTS Ltd (ex-Rex Pharma Ltd) in July.

 

Voluntary liquidation: NZ Rugby League closes holding company

Company: Rugby League NZ Ltd

Directors: John Bishop, Coatesville; & Ray Haffenden, Howick

Liquidation: 9 December

Solvent: Yes, shareholder (NZ Rugby League Inc) restructuring affairs

Liquidators: Aaron Walsh & Andrew McKay (Corporate Finance Ltd)

Other details: This company was a non-trading holding company. Mr Haffenden is a director of Bailey Surveying Ltd.

Application to wind up: Sardar Cabinet Design faces liquidation

Defendant: Sardar Cabinet Design Ltd

Directors: Amrik Singh, Patumahoe

Applicant: White Cliffs Timber Ltd

Hearing date: Friday 3 February at 10.45am

Other details: Mr Singh is a director of Bains Enterprises Ltd & Sardar Enterprises Ltd.

 

Voluntary liquidation: Simon Farrell company closes

Company: Simon Farrell Ltd

Directors: Elizabeth & Simon Farrell, Ellerslie

Liquidation: 16 December

Liquidators: Paul Sargison & Simon Dalton (Gerry Rea Partners Ltd)

Other details: The Farrells are directors of Farrell Trust Co Ltd & Tolly Properties Ltd. Mr Farrell, now at Terragona Landscape Contractors, is a contributor to gardening media and was an Ellerslie flower show judge.

Voluntary liquidation:South East Trustee closes

Company: South East Trustee Ltd

Directors: Mack Storey, Waimauku

Liquidation: 14 December

Solvent: Yes

Liquidators: Nigel Milton (BDO Auckland Ltd)

Other details: Mr Storey, a lawyer, is a director of Horsepower Lifestyles Ltd, Lucas Landing Ltd, MWC Trustees Ltd, Onerahi One Ltd, SFC Enterprises Ltd, Tauhoa Forest Ltd, Valiant Corp Ltd, and resigned from South East Properties Ltd in August.

 

Voluntary liquidation: SVT Builders closes

Company: SVT Builders Ltd

Directors: Simon van Tuyl, Albany

Liquidation: 15 December

Liquidators: Bryan Williams (BWA Insolvency Ltd)

Other details: Mr van Tuyl is a director of Primary Construction Ltd and a former director of Buildco Group Ltd.

Voluntary liquidation:Tranquillo closes

Company: Tranquillo Ltd

Directors: Tyrell Suter, Avondale

Liquidation: 14 December

Solvent: No

Liquidators: Grant Reynolds (Reynolds & Associates Ltd)

Other details: The company was established to develop land & build houses. It recently sold its last asset at a loss.

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U: The names behind the action, the week to 18 December 2011, part 2

Turn the page: Part 1,  Part 2,  Part 3,  Part 4

Contents:

Kells gets a few days to sign guarantees to save 3 development companies

BBQ Factory gets adjournment

Brelita Foods settles

CL Construction (2011) wound up

Greener Pastures puts proposal

McCabe‘s Green Grass contests debt

Cherry’s Investment Solutions wound up

Jaytech Intelligent Systems wound up

Ex-Peters company Mars EQD (ex-East On Quay Developments) wound up

Le Sueur’s Nutra Foods 2004 wound up

Power Dekor Oceania wound up

Ranolf Co settles

Ghorbani’s Resourceful Engineers wound up

Telesport (NZ) wound up

Twimmy Tools reaches settlement

TW Print to settle

Waitakere City Civil settling

Watercraft Promotions gets adjournment

Names, connections, 2+2

Items in part 1 of this week’s U column are from the Auckland High Court liquidations list on Tuesday 13 December, before Associate Judge Roger Bell. Associate Judge Bell admonished counsel in 2 cases for including costs in statutory demand claims – only the amount due could be claimed, he said. Items in part 2 are from the liquidations list on Thursday 15 December before Associate Judge Tony Christiansen, and also some liquidation applications heard by Associate Judge John Faire on Thursday.

The U  column is mostly about the down side of business, court-ordered liquidations but also voluntary liquidations, including the closure of solvent companies. Many of the items in the U column are derived from the Auckland High Court’s liquidations lists.

15 December 2011:

 

Adjourned liquidation hearing: Kells gets a few days to sign guarantees to save 3 development companies

Defendants: 401 L Ltd (as trustee of the 401 L Trust), LVO Ltd (as trustee of the LVO Trust) & Marlin Property Consultants Ltd (as trustee of the Marlin Property Trust)

Directors: Layne Kells, Grey Lynn

Applicant: Inland Revenue

Adjournment date: Monday 19 December at 2pm, with 2 further adjournment depending on progress

Other details: The case was to have reached a conclusion today with Inland Revenue to have decided on whether to accept a proposal for all 3 companies by the end of November and, if it didn’t, the companies filing for judicial review. After some confusion over whether the application was declined, counsel for the companies, Rob Hucker, moved on to details of how settlement could be reached first with the Bank of NZ, owed $1.5 million, and then with Inland Revenue. He said Mr Kells had settlements pending on 6 apartments in Eric Paton Way, St Johns, with 3 to be settled by 21 December, 2 more by 31 January and the last by 28 February. Kells companies owed Westpac (NZ) Ltd $8.3 million on apartments & a commercial unit for Eve’s Pantry being developed at 399 & 405 Manukau Rd, across the road from Alexandra Park. One settlement is scheduled for 21 December and others in February, and Mr Hucker said Mr Kells projected a $700,000 surplus after the Westpac mortgage was repaid. Gulf Harbour Marlin Ltd, owner of a development site at the end of the marina at Gulf Harbour which was to have been a supporting company in the settlement proposal, went into liquidation on 30 November with an estimated deficit of $10.5 million, assuming the book value of just over $4 million for the marina site is accurate. However, sale of shops at Gulf Harbour would generate $1.5 million on a conservative estimate, and another $500,000 would come from Mr Kells’ interest in a joint venture on the Santa Rosa development site. Mr Hucker said Mr Kells was offering second mortgages over entities which didn’t owe the tax debt to ensure the tax debt was covered. The outcome of Associate Judge Faire’s deliberations on the proposal was that he required Mr Kells to provide a personal guarantee by Monday, with security registered on all the properties involved. That done, the liquidation application would be adjourned to Wednesday 15 February at 11.45am, when unconditional sale agreements would need to have been settled. If that condition was met, the case would be adjourned again to Friday 16 March at 11.45am, by which time Inland Revenue should have received full payment. An application by Body corp 319327 to wind Mr Kells’ Gabrielle’s Trustee Co Ltd up also returned to court today, although it was supposedly settled in June. This time that case was struck out. Mr Kells was the developer of the Soho Square project in Ponsonby, which the receivers sold to Progressive Enterprises Ltd in June. He’s also director of a number of other property development companies, including Campbell Kells Ltd, Campbell Road Developments Ltd, Cape Hill Ltd, Charlotte Street Developments Ltd, Eve’s Trust Ltd, Lanes Evergreen Ltd, Logan Ltd, Marina Ltd, Marlin Group Ltd, Paerata Investment Ltd, Pollen Street Ltd, Pollen Street Freehold Ltd, Ponsonby Ridge Properties Ltd, Pukekohe East Ltd, Selwyn Mews Ltd, Soho Square Ltd, St Martins Freehold Ltd, Takanini Industrial Ltd, Takanini Structure Plan Area 6 Ltd, Whangape Estate Ltd & Zenith Apartments Ltd.

Adjourned liquidation hearing: BBQ Factory gets adjournment

Defendant: BBQ Factory Ltd

Directors: Mark Flaherty, Royal Oak

Applicant: Inland Revenue

Adjournment date: Friday 9 March at 10am

Other details: Shaun Adams (KPMG Ltd) was appointed receiver of BBQ Factory on 29 September. Mr Flaherty resigned from Highwater Holdings Ltd, Spa City Ltd & Urban Blue Ltd in April and incorporated Keystone Corp Ltd, also in April.

Settlement: Brelita Foods settles

Court liquidation application, defendant: Brelita Foods Ltd

Directors: Brett & Luciell McIlroy, Somerville

Applicant: The Big Chill Distribution Ltd

Other details:

Court liquidation: CL Construction (2011) wound up

Defendant: CL Construction (2011) Ltd

Directors: Sei Hyung Chung, Rosedale

Applicant: Bunnings Ltd

Liquidators: Grant Reynolds (Reynolds & Associates Ltd)

Adjourned liquidation hearing: Greener Pastures puts proposal

Defendant: Greener Pastures Ltd

Directors: Paul & Tania Tarver, Paeroa

Applicant: Inland Revenue

Adjournment date: Friday 9 March at 10am

Other details: The company has put a proposal to Inland Revenue. Mr Tarver is a director of Prestige Grazing Ltd.

Adjourned liquidation hearing: McCabe‘s Green Grass contests debt

Defendant: Green Grass Ltd

Directors: David McCabe, Onetangi, Waiheke Island, appointed 31 August; Megan McCabe, Northcote, resigned 7 September

Applicant: Paul Sargison & Simon Dalton (Gerry Rea Partners Ltd), as liquidators of Club Crow Bar Ltd

Adjournment date: Friday 9 March at 10am

Other details: Counsel for Green Grass, Rob Hucker, said an application to set aside the statutory demand was filed this morning and was to be heard in February. Mr McCabe is a director of Performance Ohakune Ltd (ex-Margaritas Ltd) former director of Margarita’s Bar & Restaurant Ltd (in liquidation 2002), Saratoga Winery Ltd & Tapas Ltd. Saratoga Winery (director now is Pamela McCabe, Onetangi) settled an application to wind it up in July. Ms McCabe was also a director of Margarita’s Bar & Restaurant. Sunset Entertainment Ltd (Megan McCabe) was the most recent McCabe company to operate Margaritas Bar on Elliot St, but it was wound up on 3 June. Megan McCabe is a director of Club Crow Bar Ltd (wound up 3 June) Franklin Cage Ltd (ex-Purple House Ltd, removed from register April 2010) & Nachos Ltd.

Court liquidation: Cherry’s Investment Solutions wound up

Defendant: Investment Solutions Ltd

Directors: Evan Cherry, Dairy Flat

Applicant: Registrar of Companies

Liquidators: Vivian Fatupaito & Glen Gernhoefer (WHK Ltd)

Other details: Mr Cherry is a director of ISL Strategic Investments Ltd (removed from register 7 July), Sportsbuddy Ltd, Sportsbuddy Global Ltd & Trading Strategies Ltd, and resigned in June-July from Enviro-Energy Ltd, Enviro Energy Holdings Ltd, Enviro-Energy (Pukete) Ltd, Enviro Energy Systems Ltd & ISL Strategic Investments 100 Ltd.

Court liquidation: Jaytech Intelligent Systems wound up

Defendant: Jaytech Intelligent Systems Ltd

Directors: Jonathan Sadler, Remuera

Applicant: Inland Revenue

Liquidators: Viv Madsen-Ries & David Levin (Deloitte Ltd)

Other details: Mr Sadler incorporated a new company, Maximum Control Ltd, on 26 October.

Court liquidation: Ex-Peters company Mars EQD (ex-East On Quay Developments) wound up

Defendant: Mars EQD Ltd (ex-East On Quay Developments Ltd)

Directors: Michael Skates, Waterview, replaced Jamie Peters, Pt Wells, on 1 October 2009

Applicant: Inland Revenue

Liquidators: Official Assignee

Other details: 7 other ex-Peters companies (with Mr Skates now the director) were wound up in November City West Ltd, EOQ (Concurrent Lease) RC Trustco Ltd, EP DM Ltd (ex-Equity Pacific DM Ltd), Grasmere Station Ltd, Sofitel Queenstown Lessors RC Trustco Ltd, Tapora Investment RC Trustco Ltd & Union Nelson (Freehold) RC Trustco Ltd (as trustee of the Union Nelson (Freehold) JP Trust). This one, which changed its name in 2008, was given until last week to arrange settlement. In court last week, Associate Judge Hannah Sargisson declined its application to file a defence out of time, but allowed another brief adjournment “to enable the company to either pay the debt or to demonstrate with documentary evidence that it has an approved loan facility and will shortly be paying the debt pursuant to funds being made available through such facility. If either is not met it can expect an order for liquidation next week”. Today, the company withdrew instructions for counsel to defend the application. Mr Skates is a director of A1 Trustco Ltd, Autocar Ltd, CFL (NZ) Ltd, Corporate Overhead Ltd, several East On Quay companies, EP DM Trustco Ltd, Hauraki Investment Trust Ltd, High Country Retreats Ltd, Infrastruct NZ Ltd, MND Holdings Ltd, Pacific Cliffs Ltd, Peak Road Holdings Ltd, Prime Energy Ltd, RCL 2 Ltd, Sofitel Queenstown Lessors Ltd, Starline Treasury JP Ltd, Starline Utilities Ltd, several Tapora companies, Union Nelson companies, Ventry Ltd (ex-Rifleman Ltd) & several other Ventry companies. Mr Peters was adjudicated bankrupt on 6 October 2009.

Court liquidation: Le Sueur’s Nutra Foods 2004 wound up

Defendant: Nutra Foods 2004 Ltd

Directors: Terry Le Sueur, Ranui

Applicant: Inland Revenue

Liquidators: Bryan Williams (BWA Insolvency Ltd)

Other details: Mr Le Sueur incorporated Nutra Foods 2004 as his previous company, Nutra Foods Ltd, faced liquidation (it was wound up in December 2004 and removed from the register on 13 September this year). On 9 May, he incorporated Nutra Foods 2011 Ltd. Mr Le Sueur told the judge he’d put a proposal to Inland Revenue in June to pay all tax excluding penalties & interest, and was hoping to improve on that proposal, which had been rejected.

Court liquidation: Power Dekor Oceania wound up

Defendant: Power Dekor Oceania Ltd

Directors: Su Min, Glenfield

Applicant: Dry Homes Solutions (2009) Ltd (in liquidation)

Liquidators: John Buchanan (Northside Insolvency Ltd)

Other details: Su Min is a director of E-Solar Environment Tech Ltd.

Settlement: Ranolf Co settles

Court liquidation application, defendant: Ranolf Co Ltd

Directors: Jasu Mati Bhana, Rotorua; & Bharat Parshotam, Lynfield

Applicant: Body corp 68114

Other details: Mr Parshotam is a director of Parshotam & Co Trustee Co Ltd & various other trustee companies, Hamex Ltd, Keshavji Co Ltd & KMB Projects Ltd (in liquidation 2009).

Court liquidation: Ghorbani’s Resourceful Engineers wound up

Defendant: Resourceful Engineers Ltd

Directors: Mehrdad Ghorbani, Sunnyhills

Applicant: ANZ National Bank Ltd

Liquidators: Official Assignee

Other details: Mr Ghorbani is a director of Stylishome NZ Ltd and was the director of Baroona Preservation NZ Ltd (removed from register 2008).

 

Court liquidation: Telesport (NZ) wound up

Defendant: Telesport (NZ) Ltd

Directors: David Rawkins, Mt Albert; & Ian Rawkins, Western Springs

Applicant: Inland Revenue

Liquidators: Colin McCloy & Craig Sanson (PWC)

Other details: David Rawkins is a director of BT Realty Ltd, Cabdill Holdings Ltd, Mt Eden First National Ltd (removed from register 2006), Rawkins Realty Ltd, Sure Realty Ltd & Total Sport On TV Ltd, and a former director of Good Real Estate Ltd, Image Realty Ltd & The Fair Ltd. Ian Rawkins is a director of Cal Comms NZ Ltd, Motors TV NZ Ltd &, Pitlane Ltd.

Settlement: Twimmy Tools reaches settlement

Court liquidation application, defendant: Twimmy Tools Ltd

Directors: Greg Symons, Howick; & & Andy Taylor, Sydney (ex-Eden Terrace)

Applicant: James & Wells Intellectual Property

Other details: Settlement has been agreed. Twimmy Tools and another Symons company, Divvy Tools Ltd, settled another liquidation application in June. Exemplar Consulting Ltd & Twimmy Artisan Ltd (Mr Symons a director of both) were wound up in court on 9 December and Vooop Ltd (Mr Symons, Mr Taylor &Thomas Osborne) went into voluntary liquidation on1 December. Mr Symons is a director of FAS Group Ltd (in liquidation 2010), Fibroin Initiatives Ltd (removed from register February), Incutech Trustee Co Ltd, Mediajabb Ltd (removed from register 2010), Opus Fintek Ltd (in liquidation 2009), Racing Experience Ltd, The Drak Trustee Co Ltd (removed from register 17 November), TVM Fusion Ltd, TVM Nexus Ltd (in liquidation 2010) & Wag the Dog Agency Ltd, and a former director of Hopscotch Money Ltd. Mr Taylor is a director of VDI Ltd (in liquidation 2009) & Wag the Dog Agency.

Adjourned liquidation hearing: TW Print to settle

Defendant: TW Print Ltd

Directors: Stephen Treves, Murrays Bay

Applicant: BJ Ball Ltd

Adjournment date: Friday 9 March at 10am, for settlement

Other details: Mr Treves said he was negotiating the sale of the client base and sale of a property in Christchurch was to settle on 27 January.

Adjourned liquidation hearing: Waitakere City Civil settling

Defendant: Waitakere City Civil Ltd

Directors: Brett Iti, Glen Eden

Applicant: Inland Revenue

Adjournment date: Friday 3 February at 10am, to settle

Other details: Mr Iti arrived in court with a bank cheque, but the application was adjourned for settlement to be completed. He’s a director of B&J Iti Contracting Ltd (wound up 2007) and Iti & Syddall Enterprises Ltd.

Adjourned liquidation hearing: Watercraft Promotions gets adjournment

Defendant: Watercraft Promotions Ltd

Directors: Alan Gwyer, waterfront

Applicant: Westpac NZ Ltd

Adjournment date: Friday 3 February at 11.45am, to argue whether there is an arguable defence

Other details: Associate Judge Christiansen said the defence appeared to be a delaying tactic.

Turn the page: Part 1,  Part 2,  Part 3,  Part 4

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Attribution: Public notices, public records, attendance in court, column compiled by Bob Dey for The Bob Dey Property Report.

 

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U: The names behind the action, the week to 18 December 2011, part 1

Turn the page: Part 1,  Part 2,  Part 3,  Part 4

Contents:

Agricultural & Lifestyle Machinery NZ wound up

Alliance Demolition to settle one liquidation call, faces another

Bits Trustee wound up

Liquidation deferred for Mudgway’s Conway Madison Group

E-formation gets adjournment

Moneylink Group wound up

Puriri Hill to settle

Rainbow Contractors wound up

RMR Electrical wound up

Southern Cross Enterprises gets summer to settle

SVM Print gets adjournment

Names, connections, 2+2

Items in part 1 of this week’s U column are from the Auckland High Court liquidations list on Tuesday 13 December, before Associate Judge Roger Bell. Associate Judge Bell admonished counsel in 2 cases for including costs in statutory demand claims – only the amount due could be claimed, he said. Items in part 2 are from the liquidations list on Thursday 15 December before Associate Judge Tony Christiansen, and also some liquidation applications heard by Associate Judge John Faire on Thursday.

The U  column is mostly about the down side of business, court-ordered liquidations but also voluntary liquidations, including the closure of solvent companies. Many of the items in the U column are derived from the Auckland High Court’s liquidations lists.

11 December 2011:

Court liquidation: Agricultural & Lifestyle Machinery NZ wound up

Defendant: Agricultural & Lifestyle Machinery NZ Ltd

Directors: Alister Murray, New Plymouth

Applicant: Keith David Ardern

Liquidators: Grant Reynolds (Reynolds & Associates Ltd)

Other details: Mr Murray is a director of Holly Oak Trustee Ltd.

Adjourned liquidation hearing: Alliance Demolition to settle one liquidation call, faces another

Defendant: Alliance Demolition Ltd

Directors: Andrew Davy, Otahuhu; & Annie Tautari, Kawakawa

Applicant: Cairns Group Ltd

Adjournment date: Friday 17 February at 10am, for settlement & substitution

Other details: Rixon Contracting Ltd was added as a plaintiff today, enabling it to pursue liquidation immediately if the Cairns Group settlement is completed. Mr Davy is a director of Auckland Timber Floors Ltd & Kauri Furniture Warehouse Ltd.

Court liquidation: Bits Trustee wound up

Defendant: Bits Trustee Ltd

Directors: Balbeer Singh & Roshni Golian, Onehunga; & Direndra Nath, Mt Roskill

Applicant: Whangarei District Council

Liquidators: Grant Reynolds (Reynolds & Associates Ltd)

Other details: Balbeer Singh Golian is a director of Chasers Food Co Ltd & Golian Investments Ltd. Roshni Golian is a director of Bitu Trustee Ltd, Rosgo Financial Services Ltd & Rosgo Properties Ltd. Direndra Nath is a director of Global Marketing & Distributors (NZ) Ltd & Kiwi Enterprise (NZ) Ltd.

Adjourned liquidation hearing: Liquidation deferred for Mudgway’s Conway Madison Group

Defendant: Conway Madison Group Ltd

Directors: Craig Mudgway & Nicola Stewart, city

Applicant: Inland Revenue

Adjournment date: Friday 17 February at 10am, for advertising & service

Other details: Mr Mudgway was adjudicated bankrupt on 20 October. He was previously bankrupt 2000-03. Mr Mudgway has featured frequently on TV3’s Campbell Live over scams involving multiple booking of groups such as wedding parties into Fijian venues. After his discharge from bankruptcy in 2003, he became a director of the Paxton Pacific apartment development group.

Adjourned liquidation hearing: E-formation gets adjournment

Defendant: E-formation Ltd

Directors: Gregory Scott, Kohimarama

Applicant: Inland Revenue

Adjournment date: Friday 17 February at 10am

Other details: E-Formation was removed from the register in 2010, restored to it in August. Mr Scott is a director of GR Publishing Ltd (removed from register June 2010), Horizon Printing Ltd (in liquidation 2009), Retail Management Holdings Ltd (removed from register June 2010), Retail Media Ltd (in receivership & liquidation 2009), RSF Ltd (removed from register 30 May) & The Private Sale Co Ltd, and a former director of B.buys.com Ltd, CSM Communications Ltd, Dow Communications Ltd & Inside Retail Ltd.

Court liquidation: Moneylink Group wound up

Defendant: Moneylink Group Ltd

Directors: John Steell Munro, London; & Mark Backhaus, Herald Island

Applicant: Mr Backhaus

Liquidators: Steven Khov & Damien Grant (Waterstone Insolvency)

Other details: The Backhaus family had Mr Munro’s Trident Capital LP wound up on 27 October. Mr Munro is a director of Integris Financial Group Ltd, Innisfree Trust Holdings Ltd, Intermarine Group Ltd, Seaward Securities Ltd & Westbury Manor Holdings Ltd, and a former director of Virr Ventures Ltd.

Adjourned liquidation hearing: Puriri Hill to settle

Defendant: Puriri Hill Ltd

Directors: Christopher & Michelle Ross, Helensville

Applicant: Inland Revenue

Adjournment date: Friday 23 March at 10am, to implement payment plan

Other details: The Rosses are directors of Woodhill Sands Ltd.

Court liquidation: Rainbow Contractors wound up

Defendant: Rainbow Contractors Ltd

Directors: William Mann, Avondale

Applicant: Inland Revenue

Liquidators: Viv Madsen-Ries & David Levin (Deloitte Ltd)

Court liquidation: RMR Electrical wound up

Defendant: RMR Electrical Ltd

Directors: Mark Scrivener, Henderson

Applicant: Inland Revenue

Liquidators: Official Assignee

Other details: Mr Scrivener (trading as Aden Electrical Auckland Service) was adjudicated bankrupt in March. He said the company ceased trading then due to the bankruptcy.

Adjourned liquidation hearing: Southern Cross Enterprises gets summer to settle

Defendant: Southern Cross Enterprises Ltd

Directors: Paul Dovico & Warren Duncan, Sydney; Michael Finnigan, New Plymouth; & Kevin Gillespie, Milford

Applicant: Inland Revenue

Adjournment date: Friday 17 February at 10.45am, for settlement

Other details: Counsel for Southern Cross argued that liquidating the New Zealand operation would reduce the ability of the Australian operations to meet the indebtedness. Westpac NZ Ltd, owed $55.2 million, appointed Brian Mayo-Smith & Andrew Bethell (BDO Auckland Ltd) as receivers on 15 August. Unsecured creditors were owed another $31.3 million. The company owned a number of assets used in the Yarrows Group, including land & buildings in Manaia & Auckland, intellectual property assets and interests in the Yarrows Group’s Australian operations. The receivers said they’d already been appointed to parent company Southern Cross Investments Ltd & other Yarrows Group companies, and their appointment to this one was necessary to facilitate the sale of the Yarrows New Zealand business. The receivers announced that sale in October, to Yarrows (The Bakers) 2011 Ltd (owned by John & Rosaleen Yarrow). Mr Dovico & Mr Duncan are partners in Sydney accountancy firm Duncan Dovico. Mr Finnigan is a director of various Yarrow companies, Eliot Properties Ltd, Kaimata Sawmill (1994) Ltd & NZ Catholic Education Office Ltd. Mr Gillespie is a director of Ezibuy Holdings Ltd, Gilljens Ltd, Goldman Henry Corp Ltd, Matauri Bay Properties Ltd, Max Fashions Ltd, Merenti Ltd, Pipers Operations Ltd, Profile Ltd, Raasay Holdings Ltd, SEC Trading Co Ltd, Skinfood NZ Ltd, The Trinity Foundation Ltd, Trade Finance Ltd and Valentines Restaurant & Bar (NZ) Ltd.

Adjourned liquidation hearing: SVM Print gets adjournment

Defendant: SVM Print Ltd

Directors: Parmeshwar Goundar, Goodwood Heights

Applicant: Inland Revenue

Adjournment date: Friday 17 February at 10am

Other details: Mr Goundar is a director of Goundar’s Investments Ltd, Pacific Panel & Paints Ltd (removed from register 2008), Print & Sign Zone Ltd and SVM Investments Ltd.

Turn the page: Part 1,  Part 2,  Part 3,  Part 4

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U: The names behind the action, the week to 11 December 2011, part 3

Turn the page: Part 1,  Part 2,  Part 3

Contents:

Aladdin Dream Kitchens closes

Ex-car importer Baja closes

Administrators enter Fermahs’ Cineplex 5

Cintra Quad Group closes

Constructive Personel closes

D&D Manufacturing faces liquidation

Decisionmakers (Waikato) wound up

Fretton & Gabriel Enterprises (trading as Budget Manukau) faces liquidation

Greener Pastures faces liquidation

Herbst Consulting Services faces liquidation

Hooper Machinery sells business, closes

Receivers enter 2 HP Industries companies

NF Wiley closes

On 2 It (2008) closes

Portal Construction faces liquidation

Suburban City Movers closes

Iti’s Waitakere City Civil faces liquidation

Wizard Distributors closes

Names, connections, 2+2

Items in part 1 of this week’s U column are from the Auckland High Court liquidations list on Wednesday 7 December, before Associate Judge Jeremy Doogue. Items in part 2 are from the liquidations list on Friday 9 December, before Associate Hannah Sargisson.

The U  column is mostly about the down side of business, court-ordered liquidations but also voluntary liquidations, including the closure of solvent companies. Many of the items in the U column are derived from the Auckland High Court’s liquidations lists.

11 December 2011:

Voluntary liquidation:Aladdin Dream Kitchens closes

Company: Aladdin Dream Kitchens Ltd

Directors: Saiyad Mahmood Ali, Ranui

Liquidation: 5 December

Solvent: No

Liquidators: Derek Ah Sam & Paul Vlasic (Rodgers Reidy, chartered accountants)

Creditors’ claims: 20 January

Voluntary liquidation: Ex-car importer Baja closes

Company: Baja Ltd

Directors: Laurice & Paul Nelson, Beachhaven

Liquidation: 29 November

Solvent: No

Liquidators: John Buchanan (Northside Insolvency Ltd)

Creditors’ claims: 6 January

Other details: The company stopped trading in February 2010 after suffering currency losses buying vehicles from Japan. Mr Nelson is a director of Spectrum Cars Ltd.

Voluntary administration: Administrators enter Fermahs’ Cineplex 5

Company: Cineplex 5 Ltd

Directors: Dave Fermah,St Marys Bay; & Des Fermah, Whakatane

Administrators: Steven Khov & Damien Grant (Waterstone Insolvency)

Appointment date: 9 November

Creditors’ watershed meeting: Wednesday 14 December at 9am, Whakatane, Tuscany Villas

Other details: The Fermahs are directors of Albany Property Trust Ltd (Dave only), Body Corporate Trustees Ltd, Cabaret Voltaire Ltd, Deliverme Ltd (Dave only), Easylife Finance Ltd, Easy Life Retirement Housing Ltd, Emmediate Labs Ltd, Entreprop Ltd, Fermah Holdings Ltd, Investment Property Housing Ltd, Investment Property People Ltd, Kiwi Housing Trust Ltd, Kiwi Property Trust Ltd, Loansurf NZ Ltd (Des only), Miro Developments Ltd, Modulock Properties Ltd (Des only), NZ Construction Ltd (Des only), Residential Building & Development Ltd (in liquidation, Des only), Super Coaters Pacific Ltd, Stewart St Ltd, Sunnyvale Property Trust Ltd, Teardrop Explodes Ltd, The Source Ltd, The Source Financial Services Ltd, The Source Sound & Video Stores Ltd, Timfin Pacific Ltd, Tirotiro Rise Ltd & United Codec Networks Ltd (Dave only).

Voluntary liquidation: Cintra Quad Group closes

Company: Cintra Quad Group Ltd

Directors: Ian Calvert, Tauranga; & Neil Calvert, Hauraki

Liquidation: 27 November

Liquidators: John Whittfield (Corporate Solutions & Management Ltd)

Creditors’ claims: 31 December

Other details: Ian Calvert is a director of Astron Technical Products Ltd (removed from register 2010), Grenville Developments Ltd, Pacific Apartment Group Ltd, Palmer Trading Ltd & Reno Projects Ltd. Neil Calvert is a director of Pacific Apartment Group & Palmer Trading.

Voluntary liquidation:Constructive Personel closes

Company: Constructive Personel Ltd

Directors: Bobbie-Jo White, Titirangi

Liquidation: 6 December

Liquidators: Derek Ah Sam & Paul Vlasic (Rodgers Reidy, chartered accountants)

Creditors’ claims: 20 January

Other details: Ms White is a director of Nexus Recruitment Ltd (wound up 2010).

Application to wind up: D&D Manufacturing faces liquidation

Defendant: D&D Manufacturing Ltd

Directors: Stephen Penney, Kohimarama

Applicant: Inland Revenue

Hearing date: Friday 24 February at 10am

Other details: Mr Penney is a director of D&D Manufacturing 2009 Ltd (removed from register 7 July).

Court liquidation: Decisionmakers (Waikato) wound up

Defendant: Decisionmakers (Waikato) Ltd (ex-Hartles Holdings Ltd)

Directors: Rodney Hartles, Hamilton

Liquidation: 5 December, Hamilton

Liquidators: Christine Dunphy & Iain Shephard (Shephard Dunphy Ltd, Wellington)

Creditors’ claims: 21 February

Other details: The company changed its name from Broadbase Waikato Ltd & Hartles Holdings in 2006. Mr Hartles is a director of Decisionmakers (Waikato) 2006 Ltd (removed from register 2007), RJ Hartles Ltd, RJ Hartles 2010 Ltd & Winharts Ltd, and is a former director of Decisionmakers Financial Services Group Ltd.

Application to wind up: Fretton & Gabriel Enterprises (trading as Budget Manukau) faces liquidation

Defendant: Fretton & Gabriel Enterprises Ltd (trading as Budget Manukau)

Directors: Lloyd Fretton, Mangere

Applicant: Toyota NZ Ltd

Hearing date: Friday 3 February at 10am

Application to wind up: Greener Pastures faces liquidation

Defendant: Greener Pastures Ltd

Directors: Paul & Tania Tarver, Paeroa

Applicant: Inland Revenue

Hearing date: Thursday 15 December at 10am

Other details: Mr Tarver is a director of Prestige Grazing Ltd.

Application to wind up: Herbst Consulting Services faces liquidation

Defendant: Herbst Consulting Services Ltd

Directors: Michelle Herbest, Glen Innes

Applicant: Inland Revenue

Hearing date: Friday 27 January at 10am

Voluntary liquidation:Hooper Machinery sells business, closes

Company: Hooper Machinery Ltd

Directors: Paul Hooper, Herne Bay

Liquidation: 5 December

Solvent: No, business sold

Liquidators: Jeff Meltzer & Lloyd Hayward (Meltzer Mason Heath)

Creditors’ claims: 9 January

Receivership: Receivers enter 2 HP Industries companies

Company: HP Industries Holding Ltd & HP Industries (NZ) Ltd

Directors: Stephen Berriman, Robert Hudson & chief executive Farhad Maleklou, Sydney

Receivership date: 8 December

Receivers: Colin McCloy & David Bridgman (PWC)

Other details: The company manufactures plastic packaging & steel drums. It acquired Amcor’s PET business, including a manufacturing facility at Albany, in 2006.

Application to wind up: Jaytech Intelligent Systems faces liquidation

Defendant: Jaytech Intelligent Systems Ltd

Directors: Jonathan Sadler, Remuera

Applicant: Inland Revenue

Hearing date: Thursday 15 December at 10am

Other details: Mr Sadler is a director of Maximum Control Ltd.

Application to wind up: Kohinoor faces liquidation

Defendant: Kohinoor Ltd

Directors: Lyn & Paul Bunker, Pukekohe

Applicant: Luc Vets

Hearing date: Friday 27 January at 10am

Other details: Lyn Bunker is a director of Franklin Woolbuyers Ltd, Mondia Ltd & Romon Properties Ltd. Paul Bunker is a director of Broadlands Forest Ltd, DCNZ Ltd (ex-Diamonds.co.nz Ltd), Mondia, Romon Properties & Zone Ventures Ltd.

Application to wind up: Olliver’s Leefield Farming faces liquidation

Defendant: Leefield Farming Ltd

Directors: Greg Olliver, St Heliers

Applicant: Inland Revenue

Hearing date: Friday 27 January at 10.45am

Other details: Mr Olliver began development of Stonefields on the former Winstone quarry at Mt Wellington and at Long Bay through Landco Ltd, and had bought up sites to redevelop the residential hillside above St Heliers village, but was ousted from Landco in 2008 by his financial backer, the Todd Group. Landco is now Todd Property Ltd. In 2009, Mr Olliver had his debt-compromise proposal with creditors approved. He remains a director of BBG Holdings Ltd, CIT Hydro Ltd, Commercial Steel Fabrication Ltd, Dormant Six Ltd, Durafort Investments Ltd, Landco Ltd, Landco Farming Ltd, Landco Pastoral Holdings Ltd, Landco Rural Trust Ltd, Leefield Holdings Ltd, Leefield Vineyards Ltd (in receivership 2009; this company leased its property to Leefield Farming), Lees Valley Farming Ltd, Lees Valley Pastoral Ltd, Leg Investments Ltd, Mairaki Downs Holdings Ltd, Old Albany Ltd, Ollie & Co Ltd, St Heliers Bay Village Ltd, St Heliers Capital Ltd, The Bankhouse Trust Ltd, The Pheonix Trust Ltd, The Retiring BBG Trust Ltd & Whangaparaoa Holdings Ltd.

Voluntary liquidation: NF Wiley closes

Company: NF Wiley Ltd

Directors: Carolyn Hill, Whangamata; & Stephanie McCallum, Blockhouse Bay

Liquidation: 6 December

Solvent: Yes, ceased trading

Liquidators: Peri Finnigan & Roy Horrocks (McDonald Vague & Partners Ltd)

Creditors’ claims: Monday 16 January

Voluntary liquidation: On 2 It (2008) closes

Company: On 2 It (2008) Ltd

Directors: Michael Moult, Piha

Liquidation: 4 December

Solvent: No

Liquidators: Derek Ah Sam & Paul Vlasic (Rodgers Reidy, chartered accountants)

Creditors’ claims: 20 January

Other details: The company ran a cafe.

Application to wind up: Portal Construction faces liquidation

Defendant: Portal Construction Ltd

Directors: Leslie Port, Hamilton

Applicant: Bunnings Ltd

Hearing date: Monday 20 February at 10.45am, Hamilton

Other details: Mr Port is a former director of Port McKenzie Construction Ltd.

Voluntary liquidation:Suburban City Movers closes

Company: Suburban City Movers Ltd

Directors: Graeme Fatialofa, Henderson

Liquidation: 5 December

Solvent: No

Liquidators: Derek Ah Sam & Paul Vlasic (Rodgers Reidy, chartered accountants)

Creditors’ claims: 20 January

Other details: Mr Fatialofa was replaced as director of Suburban Metro Relocations Ltd by Carolyn Fatialofa, Henderson, who’s the other shareholder of Suburban City Movers.

Application to wind up: Iti’s Waitakere City Civil faces liquidation

Defendant: Waitakere City Civil Ltd

Directors: Brett Iti Glen Eden

Applicant: Inland Revenue

Hearing date: Thursday 15 December at 10am

Other details: Mr Iti is a director of B&J Iti Contracting Ltd (in liquidation 2007) and resigned on 12 September from Iti & Syddall Enterprises Ltd.

Voluntary liquidation: Wizard Distributors closes

Company: Wizard Distributors Ltd

Directors: Beryl Hamblyn, Takapuna

Liquidation: 2 December

Solvent: No

Liquidators: Steven Khov & Damien Grant (Waterstone Insolvency)

Creditors’ claims: 30 December

Other details: The company was a toy wholesaler.

Turn the page: Part 1,  Part 2,  Part 3

If you want to comment on items in the U column, Go to the forum or send an email to [email protected].

 

Attribution: Public notices, public records, attendance in court, column compiled by Kel Rayens & Bob Dey for The Bob Dey Property Report.

 

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U: The names behind the action, the week to 11 December 2011, part 2

Turn the page: Part 1,  Part 2,  Part 3

Contents:

CA & LA Holdings to settle

EPS Connective settles, removed from register

Symons companies Exemplar & Twimmy Artisan wound up

Jobreto Security wound up

Khangura Enterprises wound up

Kingie Trustee Services settles

Kitchen Logistics to settle

Judge gives Mars EQD week to sort tax

Monoway Hire & Sales wound up

Pacific Hope Labour Hire & Services settles

Roof Care settles

Sharp Electrical settles

Names, connections, 2+2

Items in part 1 of this week’s U column are from the Auckland High Court liquidations list on Wednesday 7 December, before Associate Judge Jeremy Doogue. Items in part 2 are from the liquidations list on Friday 9 December, before Associate Hannah Sargisson.

The U  column is mostly about the down side of business, court-ordered liquidations but also voluntary liquidations, including the closure of solvent companies. Many of the items in the U column are derived from the Auckland High Court’s liquidations lists.

9 December 2011:

Adjourned liquidation hearing: CA & LA Holdings to settle

Defendant: CA & LA Holdings Ltd

Directors: Luke Moncur & Catherine Wyatt, Army Bay

Applicant: Inland Revenue

Adjournment date: Friday 27 January at 10am, for settlement

Settlement: EPS Connective settles, removed from register

Court liquidation application, defendant: EPS Connective Ltd

Directors: Jay Eparaima, Konini

Applicant: Porter Hire Ltd

Other details: The company was removed from the register on 17 November.

Court liquidation: Symons companies Exemplar & Twimmy Artisan wound up

Defendants: Exemplar Consulting Ltd, Twimmy Artisan Ltd & Vooop Ltd

Directors: Greg Symons (all 3 companies) & Roger Smith (Twimmy Artisan), Point View; Thomas Osborne, Helensville (Vooop); & Andy Taylor, Sydney (ex-Eden Terrace; Vooop)

Applicant: Inland Revenue

Liquidators: Exemplar & Twimmy Artisan – Official Assignee; Vooop – Digby Noyce (RES Corporate Services Ltd), appointed by shareholders 1 December

Other details: A related company, Twimmy Tools Ltd (Mr Symons & Mr Taylor) faced an application to wind it up on Friday and had it adjourned to Thursday 15 December. Mr Symons is a director of Divvy Tools Ltd, FAS Group Ltd (in liquidation 2010), Fibroin Initiatives Ltd (removed from register February), Incutech Trustee Co Ltd, Mediajabb Ltd (removed from register 2010), Opus Fintek Ltd (in liquidation 2009), Racing Experience Ltd, The Drak Trustee Co Ltd (removed from register 17 November), TVM Fusion Ltd, TVM Nexus Ltd (in liquidation 2010) & Wag the Dog Agency Ltd, and a former director of Hopscotch Money Ltd. Mr Osborne is a director of Magic Beans (NZ) Ltd & VDI (2) Ltd (ex-Wag the Dog Ltd) and resigned 28 November from Wag the Dog Agency. Mr Smith is a director of Charge 2 Go Ltd, Divvy Tools, E 2 Go Ltd, Epay NZ Ltd, R&C Trustees Ltd, RC Administration Ltd, RC Smith Properties Ltd, RC Property Developments Ltd, Ria Financial Services NZ Ltd & The Junction Sports Bar Ltd. Mr Taylor is a director of VDI Ltd (in liquidation 2009) & Wag the Dog Agency.

Court liquidation: Jobreto Security wound up

Defendant: Jobreto Security Ltd

Directors: Enilimoni & Sateki Tongotea, Mangere

Applicant: Inland Revenue

Liquidators: Official Assignee

Court liquidation: Khangura Enterprises wound up

Defendant: Khangura Enterprises Ltd

Directors: Mandeep Kaur, Papatoetoe

Applicant: Inland Revenue

Liquidators: Official Assignee

Other details: Mandeep Kaur is a director of Sanghera Enterprises Ltd (removed from register 2010).

Discontinued: Kingie Trustee Services settles

Court liquidation application, defendant: Kingie Trustee Services Ltd

Directors: Ian King, Cockle Bay

Applicant: Body corp 202302

Other details: When body corp 199762’s application to wind the company up was in court on 9 November, Kingie was given until 30 March to settle. Mr King is a director of New Horizon Property Consultants Ltd & Ponsonby Holdings Ltd.

Adjourned liquidation hearing: Kitchen Logistics to settle

Defendant: Kitchen Logistics Ltd

Directors: Warren Kerr, Greenlane

Applicant: Inland Revenue

Adjournment date: Friday 27 January at 10am, for settlement

Adjourned liquidation hearing: Judge gives Mars EQD week to sort tax

Defendant: Mars EQD Ltd (ex-East On Quay Developments Ltd)

Directors: Michael Skates, Waterview, replaced Jamie Peters, Pt Wells, on 1 October 2009

Applicant: Inland Revenue

Adjournment date: Thursday 15 December at 10.45am

Other details: 7 other ex-Peters companies (with Mr Skates now the director) were wound up in November City West Ltd, EOQ (Concurrent Lease) RC Trustco Ltd, EP DM Ltd (ex-Equity Pacific DM Ltd), Grasmere Station Ltd, Sofitel Queenstown Lessors RC Trustco Ltd, Tapora Investment RC Trustco Ltd & Union Nelson (Freehold) RC Trustco Ltd (as trustee of the Union Nelson (Freehold) JP Trust). This one, which changed its name in 2008, was given until today to arrange settlement. In court today, Associate Judge Sargisson declined its application to file a defence out of time, but allowed another brief adjournment “to enable the company to either pay the debt or to demonstrate with documentary evidence that it has an approved loan facility and will shortly be paying the debt pursuant to funds being made available through such facility. If either is not met it can expect an order for liquidation next week”. A required payment of $6250 was made by bank cheque and the company’s accountant said outstanding returns for gst & income tax were posted 3 days ago. “That is not compliance,” the judge said. Defence counsel Rob Hucker said he had instructions to prepare judicial review proceedings of the commissioner’s decision to decline an offer made by the company and said the remaining $55,000 debt could be cleared within 6 months. Inland Revenue lawyer Mary Nelson said the proposal was declined “because we could not ascertain what the actual debt was, so many of the returns were outstanding. The valuations (of the company’s property) say the property was worth $6.3 million but we have no idea what the liabilities would be, and the company has closed its offices. The valuation was done in 2007.” Although Mr Hucker said the company was asset rich and would pay tax debt out of rentals, Associate Judge Sargisson wasn’t convinced there was any defence of insolvency: “An arrangement would take at least 6 months. I am not satisfied that meets the statutory test of solvency…. Really what’s proposed here is that the commissioner provide a facility for funding, and of course that’s not something the commissioner’s obliged to do. The fact that the company had not approached or obtained funding from the normal lending sources is itself telling.” Mr Skates is a director of A1 Trustco Ltd, Autocar Ltd, CFL (NZ) Ltd, Corporate Overhead Ltd, several East On Quay companies, EP DM Trustco Ltd, Hauraki Investment Trust Ltd, High Country Retreats Ltd, Infrastruct NZ Ltd, MND Holdings Ltd, Pacific Cliffs Ltd, Peak Road Holdings Ltd, Prime Energy Ltd, RCL 2 Ltd, Sofitel Queenstown Lessors Ltd, Starline Treasury JP Ltd, Starline Utilities Ltd, several Tapora companies, Union Nelson companies, Ventry Ltd (ex-Rifleman Ltd) & several other Ventry companies. Mr Peters was adjudicated bankrupt on 6 October 2009. The tender closes next week for the former city council Cook St depot, which Mr Peters had planned to develop using various Union Nelson & other companies, after Mr Peters’ successor on the property title, Douglas Rikard-Bell, failed to get enough sales to start a residential development there.

Court liquidation: Monoway Hire & Sales wound up

Defendant: Monoway Hire & Sales Ltd

Directors: Ray Hagenson, Massey

Applicant: Inland Revenue

Liquidators: Viv Madsen-Ries & David Levin (Deloitte Ltd)

Other details: Mr Hagenson is a director of Monoway Trailers 2007 Ltd & Rainbow Engineering (2001) Ltd (in liquidation 2007).

Withdrawn: Pacific Hope Labour Hire & Services settles

Court liquidation application, defendant: Pacific Hope Labour Hire & Services Ltd

Directors: Sautia Maluofeua, Massey

Applicant: Inland Revenue

Withdrawn: Roof Care settles

Court liquidation application, defendant: Roof Care Ltd

Directors: Kelly Scally, Epsom

Applicant: Inland Revenue

Other details: Mr Scally is a director of HBC Custodians Ltd & Safe N Simple Ltd.

Settlement: Sharp Electrical settles

Court liquidation application, defendant: Sharp Electrical Ltd

Directors: Christopher Sharp, Goodwood Heights

Applicant: Inland Revenue

Other details: Mr Sharp is a director of Ipsys Ltd, Sharp Family Holdings Ltd & System Fox Ltd, and a former director of Houdini Holdings Ltd.

Turn the page: Part 1,  Part 2,  Part 3

If you want to comment on items in the U column, Go to the forum or send an email to [email protected].

 

Attribution: Public notices, public records, attendance in court, column compiled by Kel Rayens & Bob Dey for The Bob Dey Property Report.

 

Want to advertise on this page? Call 021 894 858 or email [email protected].

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