Thrive Homes Ltd was put into liquidation by the High Court of Dunedin in October following a claim by unsecured creditor Trademax NZ Ltd.
Trevor and Emma Laing, of Trevor Laing and Associates, have been appointed as co-liquidators and the couple have released their first semi-annual report.
Campbell David Romeril, of Port Chalmers, was listed on the Corporations Office website as the sole shareholder and director of Thrive Homes.
The report found that the company owed a total of $ 167,938, of which $ 62,463 was owed to Inland Revenue and $ 101,358 to unsecured creditors.
The remaining amount was intended for the expense of creditors.
The company’s total assets had not yet been established, but there were facilities and equipment stored in several locations, according to the report.
Investigations into the value of these items and how they were collected continued.
The liquidators were aware of several disputes relating to the company and the activities of its manager.
“It is clear from early investigations that more investigation is needed into the transactions undertaken by the company,” the report said.
It was too early to predict whether enough money would be available to pay a dividend to unsecured creditors. However, the level of preferential debt and available assets indicated that this was unlikely, according to the report.
Mr. Romeril was also a shareholder and sole director of Seaview Cottage Construction Ltd, also in liquidation. According to the semi-annual report from Seaview’s liquidator last month, she owed her creditors $ 738,000.
The liquidation was to be completed within the next 12 months.
Mr. Romeril was approached for comment.