CEA Trading’s receivers have now sold six of the firm’s 17 mostly-South Island bars and clubs, but failed to dent more than $50 million owed to its bank.

Australian-owned CEA and three related firms were placed in receivership by the Commonwealth Bank of Australia (CBA) in April with debt of more than $100m. At the time it was employing about 300 staff, many in high-profile Christchurch bars including the Holy Grail and Boogie Nights.

Read the full article online >>> stuff.co.nz

New Zealand Companies Office records for CEA TRADING LIMITED

• Director: Bronwyn Alice BINDON
• Voluntary Administration and in Receivership 28 April 2009 – Meltzer Mason Heath
• In Liquidation 03 December 2009 – Meltzer Mason Heath
• Receiver and Liquidator reports

Southland pub the Greenroofs Tavern in Wallacetown is in liquidation for unpaid debts, including money owed to the Invercargill Licensing Trust.

Court-appointed liquidator Tim Ward, of BDO Spicers, said the pub, which also trades as the Wallacetown Tavern, was put into liquidation at the High Court at Invercargill on December 16.

Read the full article online >>> The Southland Times

New Zealand Companies Office records for GREENROOFS TAVERN LIMITED list Trevor Thomas MIDDLETON and Janice Elizabeth MIDDLETON as directors and joint shareholders.

Crippled finance company Capital + Merchant collapsed into liquidation this week, owing debenture holders nearly $167 million.

The Official Assignee in Hamilton has been appointed liquidator.

Capital + Merchant was one of the first finance companies to be put in receivership. Two receivers were appointed in November 2007 Grant Thornton to act for its main lender, Fortress, and KordaMentha, appointed by Perpetual Trustee, to look after the interests of Capital + Merchant’s 7000 debenture holders.

Published: The Independent by Jenni McManus
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New Zealand Companies Office records for CAPITAL + MERCHANT FINANCE LIMITED list the directors as:
Robert Gordon SUTHERLAND – Australia
Neal Medhurst NICHOLLS
Owen Francis TALLENTIRE
Colin Gregory RYAN – Australia

Two companies owned by a Hawke’s Bay millionaire developer have been put into liquidation owing $13 million – including $400,000 in power bills.

Ray Durney’s Durney Land Company Ltd went into liquidation last week owing about 200 creditors more than $12m. It is one of 23 companies of which Mr Durney is a director.

Published: The Dominion Post by Marty Sharpe
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New Zealand Companies Office records for DURNEY LAND COMPANY LIMITED list Raymond Philip DURNEY as director.

Police are warning Manawatu people to be wary of a man who has been promising to help pay their bills as Christmas approaches.

(Lyn) Douglas Walkinshaw, 46, is the sole director of New Zealand Finance and Investments, which started in October and has been promoted in Palmerston North.

The Manawatu Standard can reveal he is charged with three fraud offences.

Read the full article online >>> Manawatu Standard

There is a noticeable hole in Palmerston North’s lunchtime food scene as the Wholly Bagels franchise on The Square has gone into voluntary liquidation.

But Wholly Bagels Ltd, which oversees all Wholly Bagels franchises, says it hopes to get the cafe up and running again.

Published: Manawatu Standard by Jimmy Ellingham
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The Wholly Bagels franchise in Palmerston North was operated by Quarn Developments Ltd.

New Zealand Companies Office records for QUARN DEVELOPMENTS LIMITED list Shiree Ann ARNOLD as sole director.

A Lower Hutt woman claimed to be a solo mother and that her children’s father was living in Poland so she could defraud the Government of more than $124,000 in benefits.

In reality, Georgina Ann Marie Nelson shared a 10-year relationship with the man and lived with him, their two children and her two children from previous relationships. Nelson, 42, known as “Georgie”, pleaded guilty in New Plymouth District Court to benefit fraud and will be sentenced on February 19.

Read the full article online >>> stuff.co.nz

A conman who lied on his CV to get a job, went on to rip off the firm for more than $1.75 million.

Trevor Uialatea Esera admitted creating hundreds of fake invoices while in charge of Rinnai New Zealand’s IT department, funnelling payments into his wife’s bank account.

His simple, yet effective fraud – he used Microsoft Excel templates to create the 350 bogus invoices – lasted six years and made him $1,758,193.

Read the full article online >>> stuff.co.nz – National

The developers of a New Plymouth apartment complex that went bust still owe millions despite most of the units being sold.

Liardet Apartments Limited went into receivership in October 2008, owing investors, including Guardian Trust and Lombard Finance and Investments, more than $7 million.

Company directors Gregory and Virginia McCarthy, of Auckland, developed the former rest home into 25 city apartments. Only 14 had sold when the company went into receivership.

Read the full article online >>> Taranaki Daily News

Receiver: PRICEWATERHOUSECOOPERS appointed 10 October 2008

Bankrupted Hamilton property developer Kenyon Clarke’s family home will go under the hammer at mortgagee auction tomorrow but he has not given it up without a fight, stripping the million-dollar home of all its chattels.

A dozen companies and trusts owned by Mr Clarke and his mother Jenepher collapsed late last year as 12 of the more than 27 companies Mr Clarke had listed with the Companies Office were placed in receivership under instruction from the Bank of Scotland which is owed more than $50m.

Read the full article online >>> Waikato Times