IRD debt forced contractor's liquidation
Blenheim vineyard contracting company Vine 2 Wine fell behind in their payments to the Inland Revenue Department, which forced them into liquidation in May.
Liquidators Craig Melhuish and Michael Keyse, of HFK in Christchurch, released their first report yesterday.
The company was put into liquidation on May 27.
Vine 2 Wine was registered to Blenheim woman Rajinder Kaur.
The report showed no breakdown of the money the company owed or who it owed money to.
However, it did state it was estimated there would be "no funds available to [pay] unsecured creditors".
The preferential and secured creditors, such as IRD, employees and hire-purchase contracts would be paid first, it said.
"[But] at this stage there are insufficient funds to pay these preferential and secured creditors," the report said.
Melhuish said that due to time constraints, the verification work was yet to be completed and they were unable to contact Kaur to get details of the company's assets.
The company stopped trading in August last year.
The liquidation process was expected to be completed by December.
Kaur's husband, Prubhjit Singh, was arrested last year and deported after spending five years in New Zealand as an overstayer following the expiry of his work visa in July 2008.
Singh, a former vineyard contractor, owed almost $1 million to New Zealand creditors, including Accident Compensation Corporation, Inland Revenue and the New Zealand Transport Agency, when he left the country.
Kaur could not be reached for comment on yesterday.
The Marlborough Express