A Tauranga building company with some 26 Christchurch clients on their books has gone into receivership – joining a raft of similar firms going bust in Christchurch since the city's 2011 earthquake.
According to a report by Stuff, NZ Design and Build was placed into receivership on May 1.
NZ Design and Build's former offices on Macdonald Street in Mount Maunganui. Photo: Google Earth.
The company's directors are named as Aaron Melville Irwin and Tracie Irwin.
Tracie is registered to an address in Mount Maunganui while Aaron gives an address in the Christchurch seaside suburb of Sumner.
The pair are also shareholders.
Hamilton receiver Kim Thompson says the company had three contracts to build houses in Christchurch and was also doing 23 jobs for insurance companies.
He subsequently cancelled the new build contracts and has arranged for the insurance jobs to be completed.
Some clients may have lost their deposit but still had value in plans and other preparation, says Kim.
Thompson believes some were protected by insurance, but it is suggested that trade creditors are owed more than $1 million.
He 'would like to think” trade creditors will recover some money after secured and preferential creditors are paid.
NZ Design and Build is unrelated to a number of other building companies with similar names.
2 comments
Insurance Companies
Posted on 27-05-2015 14:58 | By YOGI BEAR
Likely they have not been paid like so many in the Christchurch area. So many have suffered for so long on this. Add to that the fact that Fletcher building was appointed by the Government to do the clean up, so what happened to all the money? I bet that thee will be plenty more that follow this same path.
How can this occur during a building boom?
Posted on 27-05-2015 16:14 | By jed
Questions must be asked.
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