The company signalled its intention to appoint liquidators in April 2024 when its shares were suspended after it was unable to pay out a requested redemption of loan notes totalling £2.2m ($4.78m) to INL Investment Ltd from August 2023.
Deloitte liquidators David Webb and Robert Campbell were subsequently appointed to the company on July 31, 2024.
Over the course of the liquidation, Webb and Campbell were able to recover $370,646 in assets from the sale of furniture, fittings, remaining stock and certain other intellectual property.
AdvertisementAdvertise with NZME.
Despite those funds raised, East Imperial will be unable to pay $7,859,136 in funds owed to all classes of creditors.
Secured creditors have been paid $60,112 from realised…