Administration of the liquidation of the Mosgiel trucking company has been completed and the final report this month said $3.33 had been recovered from its bank accounts.
Titan Bulk Haulage was placed into liquidation in the High Court at Dunedin in May last year on the application of Inland Revenue, the cause appearing to be related to a failure to account for taxation.
The liquidator’s final report said Kiwi Asset Finance Ltd appointed a mortgagee to take possession of mortgaged goods and no surplus funds were available for the liquidation.
The director, Mr Burns, had not been located and a statement of affairs had not been received.
Secured creditors were owed $953,459 while preferential creditors were owed just over $166,101 and unsecured creditors $164,365.
Titan Bulk Haulage is a subsidiary of Burns Group 2018, of which Mr Burns is the sole director.
It is also in liquidation. — APL
