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Jewellery business fights for survival

Jewellery business fights for survival

A Manawatu jewellery business which opened nearly 30 years ago has lost its shine, with nearly half a million dollars of debts forcing it into liquidation. Manawatu Manufacturing Jewellers, established in 1985 and owned by Ross and Julie Bailey, was placed into liquidation by order of the High Court last …

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Mainzeal a tough lesson for sub-contractors

Mainzeal a tough lesson for sub-contractors

When Mainzeal Property and Construction Limited was placed into receivership earlier this month, Mainzeal’s employees, sub-contractors and suppliers were directly affected, as were a number of construction projects under Mainzeal’s control. Many sub-contractors found themselves locked out of the building site they had been working on, with their tools still …

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Cooper victims face ruin

BNZ is taking action to recover money it lent to some of the people who entered loss-making property investment deals with Glenn William Cooper, who is due to be sentenced early next month, after pleading guilty to dishonesty charges laid by the Serious Fraud Office. The case is a reminder …

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Mainzeal likely to be put in liquidation

Mainzeal likely to be put in liquidation

Mainzeal’s receiver PricewaterhouseCoopers says the collapsed construction company could be put into liquidation. A liquidator has wider powers than a receiver to ensure all creditors, not just preferred creditors, get a fair share of remaining assets. Subcontractors, who are owed millions in retention payments by Mainzeal, are among the unsecured …

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Diesel Deliverance closes

Diesel Deliverance closes

Liquidators of an insolvent Blenheim business say customers’ failure to pay bills forced the company to close, owing more than $200,000. Jeff Hart of BDO Wellington was one of the liquidators assigned to Diesel Deliverance, which went into liquidation on February 7. The business, a diesel mechanic workshop, servicing and …

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Receivers called in to Geon Group

Hundreds of jobs are at risk after printer Geon Group went into receivership with voluntary administrators appointed to the trans-Tasman company’s New Zealand operations. BusinessDay understands the more than 1000 staff in New Zealand and Australia have not yet been told whether the company will keep operating. PPB Advisory have …

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Manawatu Jennian Homes franchisee bankrupt

The owner of the failed Manawatu Jennian Homes franchise has been placed into bankruptcy. Building suppliers Bunnings Ltd successfully applied to bankrupt Anthony Hugh Scott in the High Court at Palmerston North. In March last year the building firm folded after operating under Mr Scott’s management for a decade. The …

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Barry Hart able to appeal bankruptcy after filing security bond

Struck-off lawyer Barry Hart will now be able to appeal being declared bankrupt after filing a security bond for the hearing. Yesterday, Justice Rhys Harrison struck off Mr Hart’s appeal, in part because he was not able to pay nearly $6000 security cost set by the registrar. However, today a …

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Probe launched into pokie grants

Search warrants have been executed up and down the country as part of an investigation into pokie machine grant manipulation. Internal Affairs director of gambling compliance Debbie Despard said the investigation was significant, involving a number of agencies including the Serious Fraud Office. No details on the amount or search …

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Mainzeal ‘large and complex’ receivership

The receivers of collapsed Mainzeal Property and Construction have nearly completed their initial assessment of the company’s projects, warning it is a complicated case. PWC partners Colin McCloy and David Bridgman said it was a “large and complex receivership with many different stakeholders” and wanted to assure people PwC was …

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