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U: The names behind the action, the week to 10 April 2005, part 2

Click to see the rest of this week’s U column: Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7

Contents:

Insignia wound up

Italia Motorsport to settle

Le’Kreme settling

Liguori’s Lemba Investments has property deals lined up to settle with IRD

Lift Tranz gets adjournment

National Trade Manuals settling

Newmarket RSA Club comes up with new “gonna”

Online Resources’ creditor chases costs

Seadrome action withdrawn

Claim against Wyndham Construction withdrawn

Names, connections, 2+2

The first 3 sections of the U column this week are from the Auckland High Court liquidations list on Tuesday 5 April, conducted by Associate Judge Graham Lang.

The U column is mostly about the down side of business, court-ordered liquidations but also voluntary liquidations. To make reading of the columns more manageable, they will be cut into sections of about 100 lines, which print out to 3 pages.

7 April 2005:

Court liquidation: Insignia wound up

Defendant: Insignia Ltd

Directors: Sandra Trott, Glenfield

Applicant: Inland Revenue

Liquidators: Richard Agnew & Vivian Fatupaito (PWC)

Adjourned hearing: Italia Motorsport to settle

Defendant: Italia Motorsport Ltd

Directors: Ross Allan, Newmarket

Applicant: European Motors Ltd

Adjournment date & time: Tuesday 3 May at 10am for settlement

Adjourned hearing: Le’Kreme settling

Defendant: Le’Kreme Ltd

Directors: Elena Kremechnaia & Leonid Kremechnyi

Applicant: Lasertone Ltd (trading as House of Camille)

Adjournment date & time: Tuesday 3 May at 10am to complete settlement

Adjourned hearing: Liguori’s Lemba Investments has property deals lined up to settle with IRD

Defendant: Lemba Investments Ltd

Directors: Alfonso Liguori

Applicant: Inland Revenue

Adjournment date & time: Tuesday 3 May at 10am, to allow a proposal, which the IRD rejected for lack of certainty, to be revisited

Directors’ other main interests: Lemba’s counsel, Bob Warburton, said “there is a genuine prospect of the matter being able to be resolved.” He said one Remuera property had a purchase agreement on it at $1.05 million, settlement scheduled for 31 May, and another was for sale at $700,0002. The IRD, however, understood Lemba had only one property and no equity in it. Liguori companies, 360 Church Street Ltd & Central Trading Services Ltd, went into voluntary liquidation in 2002. Other Liguori companies include Cardex Systems Ltd, Circuit Graphix Ltd, George Court & Sons Ltd, Gilmer Properties Ltd, Mega-Store Holdings Ltd, Onyx Construction Ltd & Quadrant Technology Ltd.

Adjourned hearing: Lift Tranz gets adjournment

Defendant: Lift Tranz Ltd

Directors: Darren Adams, Manurewa

Applicant: TR Group Ltd

Adjournment date & time: Thursday 11 August at 10am

Adjourned hearing: National Trade Manuals settling

Defendant: National Trade Manuals Ltd

Directors: Jonathan Watson, Takapuna

Applicant: Inland Revenue

Adjournment date & time: Tuesday 3 May at 10am for returns to be filed

Adjourned hearing: Newmarket RSA Club comes up with new “gonna”

Defendant: Newmarket Returned Services Club

Applicant: Inland Revenue

Adjournment date & time: Thursday 2 June at 10am

Details: The application was lodged last August, but the club has survived with a series of “gonna”-type promises. This time it’s to get 2 tenants which will advance it money, but this requires a meeting of members, to be held on Sunday 10 April. The club owes the IRD $177,000. The Auckland RSA also claims to be owed $100,000 of rental prepayment and said it wanted that money back because it was no longer renting. The Newmarket club claimed this money was a donation, and the signed lease said “nil rent”. Judge Lang said people dealing with the club since last August were at risk and, if the club settled with the IRD, he might not allow the Auckland RSA to take over as the applicant creditor because of that.

Adjourned hearing: Online Resources’ creditor chases costs

Defendant: Online Resources Ltd

Directors: Fiona Waldin

Applicant: Morning Star Trading Ltd

Adjournment date & time: Tuesday 3 May at 10.45am for settlement to include costs. The company paid the $3000 owing but not costs, which on the court’s 2B scale would amount to $2100.

Discontinued: Seadrome action withdrawn

Defendant: Seadrome Ltd

Directors: Tina Chivers & Patricia Astley, Titirangi

Applicants: Christopher & Lynda Bridget Crosland