Strongline Buildings liquidated owing $3.4m

By on October 31, 2014
Strongline Buildings liquidated owing $3.4m

Shareholder infighting saw Tauranga company STRONGLINE BUILDINGS LIMITED placed in liquidation last month, owing almost $3.4 million to more than 100 creditors.

At the time the company was contracted to build a potato and onion shed for Waharoa's Balle Brothers Fresh Produce Ltd.

The liquidator's first report says "a breakdown in relations between the shareholders" saw one of the shareholders head to the High Court requesting liquidation. At that point the company's overdraft facility was frozen, making trading impossible, and the remaining shareholder agreed to the liquidation.

The shareholders of the company are listed as MW & DJ Keaney Family Trust and Tillmark Family Trust.

Read the full article by Narelle Henson > Business Day - stuff.co.nz


 

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