Liquidator unable to contact owner of Timaru building company
Friday, 12 April 2024
The owner of a Timaru-based building company has not responded to attempts to contact him by the liquidator appointed to investigate his company’s debts and assets.
The sole director of the building company, Joshua Drummond, is listed as a 90% shareholder.
In his first report to creditors and shareholders liquidator Iain Shephard, of BDO Wellington, listed the known amount owed to creditors by the company at just over $48,000.
More than $42,000 of that was owed to unsecured creditors.
In his report, Shephard said “we have been unable to identify any assets that remain in the company as at the date of liquidation”.
He added that it was his understanding that the director moved abroad several years prior to the liquidation.
“We understand that the sole director of the company moved to the United States several years ago. Although it appears that trading ceased upon the director’s relocation, outstanding debt remained unpaid by the company.
“The liquidators have attempted to contact the director to understand the background to the company, the events leading to liquidation, and obtain key records to assist with the administration of the liquidation.
“No response has been received to date.”
He said he welcomed any further information or documentation which any creditors may have regarding the company.
“The liquidators will conduct an investigation of the available company’s books and records to further establish if there are any potentially voidable transactions that require investigation, and further to assess whether the director has complied with the duties and obligations imposed on him under the Act.”
Shephard said it was not practical to estimate the date of completion of the liquidation at this stage.
Any creditors have until April 19 to make a claim and should direct enquiries to BDO Wellington.