Patel said the whole sell-down process took 11 days from the date of the liquidation.
A statement of affairs shows secured creditors are owed more than $1m, including around $550,000 to the Bank of New Zealand.
Inland Revenue is owed around $425,000 in preferential claims and a further $434,000 in unsecured claims.
Unsecured trade creditors are owed around $959,000.
Patel said around $195,000 had been realised through the sale of stock and plant and equipment.
This allowed for all employees to be paid their final wages prior to liquidation ($7,577.50) and for post-liquidation work performed.
Companies Office records show Romit Prakash is the sole director of the company,…