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Stubbs Contractors liquidation: Gisborne forestry firm falls nearly $4.5m short of creditor claims

Their final liquidators’ report was released at the end of last month. Preferential, secured and unsecured creditors combined claimed $4,795,715. The total distributed to creditors was $341,898 – $32,340 to preferential creditors and the rest to secured creditors. The largest creditor was UDC Finance, which claimed $2.875m as a secured creditor. It recovered $231,533, or…

Stubbs Contractors liquidation: Gisborne forestry firm falls nearly $4.5m short of creditor claims

Their final liquidators’ report was released at the end of last month. Preferential, secured and unsecured creditors combined claimed $4,795,715. The total distributed to creditors was $341,898 – $32,340 to preferential creditors and the rest to secured creditors. The largest creditor was UDC Finance, which claimed $2.875m as a secured creditor. It recovered $231,533, or…