A Queenstown property developer whose company owes creditors more than $7 million says recent liquidations have no bearing on his commercial and apartment development projects at Jacks Point.
Formcrete Construction ceased trading in February.
Liquidators Jared Booth and Tony Maginness, of Baker Tilly Staples Rodway Auckland, were told it was because of trading losses and cash-flow difficulties caused by cost overruns.
The company was incorporated in January 2014 and its shareholders were trustees of the Franklin Business Trust and property director Dean Franklin who was the sole director.
Mr Franklin’s developments in Queenstown’s commercial heart include Clubhouse Lane, Village Works Quarters, Village Works Lofts, Hotel Tewa…