U: The names behind the action, week to 25 November 2001

Your new Bob Dey Property Report column

This page contains a mixture of property and other information, company formation, the down side of business, market bits & pieces, probably fairly cryptic and rushed.

The weekly Snapshots tend to contain formal information, while other stories on the website are generally structured. U will contain snippets, less often from formal sources, maybe unstructured and incomplete.

22 November 2001

The attempt by Dempsey & Wood Civil Contractors Ltd to overturn the appoint of a liquidator to Red Hill Homes Ltd continued in the Auckland High Court today, when Justice Judith Potter allowed a two-week adjournment to 6 December so Dempsey & Wood’s counsel, Eugene St John, could get an affidavit from the official assignee.

Red Hill Homes’ shareholders, Stephen & Kim Foley, were bankrupted in August. They claimed to be holding their shares for a trust and handed them over to new trustees on bankruptcy.

Mr St John has challenged the propriety of the trust’s position, but said information had been slow to come from liquidators Meltzer Mason Heath, while the Foleys had sought privilege, stopping the official assignee from responding so far.

For the liquidators, counsel Brett Vautier said there was no evidence to suggest their appointment was other than valid. The liquidation was “somewhat hamstrung” by the continuing challenge, he said.

Liquidation list, 22 November

The application of Allied Concrete Ltd to wind up Dallas Concrete Ltd (David Tharp, Te Atatu South) was adjourned to Thursday 7 February 2002, with settlement of the debt expected.

Soul Train Café Ltd (John James Penny, Pt Chevalier) has applied for a stay on the application of Thomas Rupert & another to have it wound up, to be heard on Monday 4 February at 2.15pm.

Mahia Road Developments Ltd (Andrew James Lamont Turner) has settled its debt to W Stevenson & Sons Ltd and the Stevenson application to have Mr Turner’s company wound up was struck out.

Filtration International Ltd (Kathleen Christopher) has settled its debt to Fletcher Steel Ltd and the Fletcher application to have Filtration International wound up was struck out.

Settlement negotiations are underway between Bella Design (International) Ltd (Neil Whitehouse, Henderson) and Inland Revenue and the IRD’s liquidation application was adjourned to Thursday 20 December at 10am.

The application of BOC Gases NZ Ltd to wind up Cactus Jacks Saloon Ltd (Graeme Rex Brown) was adjourned to Thursday 13 December at 10,45am to allow for advertising.

Giant Contractors Ltd (Lance Ludolph) had the application of Benchmark Building Supplies Ltd to wind it up struck out after Master Faire was told Giant had applied to set aside the statutory demand on which the liquidation application was based, and the dispute had been transferred to the Disputes Tribunal.

Hogan Developments Ltd (Robyn Hogan) settled its debt to Steven & Rosemary Allen and their liquidation application was struck out.

Inland Revenue’s application to liquidate Tokaanu Hotel (1999) Ltd (Anthony & Pamela Plunkett) was adjourned three weeks ago but that didn’t happen — because, the IRD’s courtroom lawyer confessed, the taxman believed “advertising would destroy any hope of the defendant selling the business.”

The department was back in court today seeking — and getting — another adjournment. This time it was “to keep this matter alive”: the company had paid $60,000 of the $65,279 claimed, but the department had found another $88,000 owing.

Said Master Faire: “You can’t have your cake and eat it too. They’ll have to file a formal affidavit of amendment and advertise.”

When told of the reason for not advertising, Master Faire said: “that’s just using the companies court for an improper purpose. If this company is insolvent a liquidation should be ordered. If it’s not insolvent, there are many other ways of collecting money.”

Improper purpose by the taxman or not, Master Faire allowed the adjournment to Thursday 13 December at 10.45am.

Palace Construction Ltd (Philip Howlett) was wound up on the application of Inland Revenue, with Steve Lawrence & Brendon Gibson (Ferrier Hodgson) appointed liquidators. Mr Howlett’s previous company, Global Construction Ltd has been wound up & struck off the register.

0800Sanders Ltd (Daryl Harford) was ordered wound up on the application of Inland Revenue even though it’s already been placed in liquidation and struck off the register, as a search of the companies register would have shown the Crown Solicitor’s office, which acts for the IRD.

The company was struck off on 17 October. The IRD filed its application on 5 October, but only advertised it on 8 November. Gerard Hulst was appointed liquidator, which seems unlikely to be a time-consuming job.

Saltwater Marinas Ltd (Mark Truscott, also a director of the Lyttelton marina companies, which are in receivership, Pacific Marina Holdings Ltd & Truscott Management Ltd) went into voluntary liquidation on 16 November, after Inland Revenue applied to wind it up. The IRD application was struck out.

B&H Plasterers Ltd (Wayne Brown & Denise Hutton-Brown) was wound up on Inland Revenue’s application, with the official assignee appointed liquidator.

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