They appear in the accounts as preferential creditors but whether they will get their wages and salaries remains unknown.
“Our present view, based on information received to date, is that it is likely that a partial distribution may be available for preferential creditors.
“However recovery actions through insolvent transactions or other remedies may bring in additional funds, although it is still too early to express a view on such matters,” the report said.
The company operated a transport management business headquartered at Wiri, mainly providing services to the construction industry.
It listed its activities under the Companies Office as road construction, repair or sealing.
It could not pay Inland Revenue but for a time,…