- SUPERIOR POWDER COATING LIMITED | CIV 2017-404-2735
- ONLINE LOGISTICS LIMITED | CIV 2017-404-2749
- CONSOLIDATED VINTNERS AND DISTILLERS (NZ) LIMITED | CIV 2017-404-2747
- YORK TRUSTEES LIMITED | CIV 2017-404-2801
- BY THE EARS LIMITED | CIV 2017-419-338
- THE ROCKPOOL LIMITED | CIV 2017-409-936
- HOTEL ASHBURTON (2016) LIMITED | CIV 2017-409-935
- NZ DISTRIBUTION LIMITED | CIV 2017-404-2824
- NNNM ENTERPRISES LIMITED | CIV 2017-404-2803
- BUILD IT CREW LIMITED | CIV 2017-404-2686
Folded insurer’s liquidation to continue for two years
The liquidation of small insurance company WESTERN PACIFIC INSURANCE LIMITED is likely to continue for at least another two years.
The liquidation is already three years old with none of the $48 million of Canterbury earthquake claims settled.
Liquidators said in their six monthly report that the liquidation was likely to continue until at least 2016 because there was a lot of work in assessing and settling insurance claims.
Western Pacific collapsed in April 2011, swamped by earthquake claims from Canterbury clients. It was owned by high-profile Queenstown lawyer Graham Smolenski and a related Australian couple, Jeff and Adele McNally.
Preferential creditors were likely to receive a payment in the next 12 months.
Read the full article by Marta Steeman > Business Day - stuff.co.nz