On 3 November 2009 The NZ Herald reported that “Truth publisher owes $622,000? – based on the Liquidator’s First published report registered on the Companies Website on 29 October 2009.
“The 105-year-old NZ Truth [of which both “Dermott Malley and John Pin, were both directors and indirect shareholders”] has … gone into liquidation owing lenders and creditors more than $600,000.
” ‘It is unlikely there will be a distribution to creditors,’ he [the liquidator Lloyd Hayward] said.
“Unsecured creditors and subordinated lenders are owed $622,074 and include New Zealand Couriers, Warehouse Stationery, Vodafone, Mercury Energy and the New Zealand Herald.”
That website (www.companies.govt.nz ). which has been shut down until 8 a.m. Monday 28 June 2010, has carried a notification that the second liquidation report was due out on 21 May 2010. However, it is over a month since that 6 month report was due out and lenders and creditors owed money by this failed company, as well as some media, will be eagerly awaiting the publication of this overdue Liquidation Report.