The former owner of a defunct Otago engineering firm who fled New Zealand and left his shareholder account more than $1.5 million overdrawn has disputed he needs to pay it all back.
Liquidators are seeking legal advice about how the money might be retrieved.
Dart Engineering was put into liquidation in March this year, owing nearly $5.4m to creditors.
By then, company director and sole shareholder Regan Maurice Williamson had left for Canada.
One of the liquidators, Malcolm Hollis, made mention in March of a shareholder current account overdrawn by $1,526,759.
The liquidators’ first six-monthly report has an update about that.
Mr Hollis said they issued a formal letter to the director, “seeking explanations for certain…