The company, owned by Brett McCormack and Michelle Macmillan, went into liquidation in March 2023 owing more than $2 million. Mr McCormack, a former Otago rugby player, was adjudicated bankrupt in December that year.
In their latest report last month, liquidators Trevor and Emma Laing said both directors had now been adjudicated bankrupt. The New Zealand Insolvency and Trustee Service’s insolvency register showed Ms Macmillan was adjudicated bankrupt on creditor’s application in the Dunedin High Court in October last year.
All physical company assets had been sold and the negotiated settlement on one completed build contract had been received. The company undertook mainly residential new builds.
It was estimated the liquidation would be completed within the next six months so long as administration of the bankruptcies had been completed.
Given the limited assets available, a distribution to preferential and unsecured creditors was not expected, the report said.
