Liquidators of Burns Group 2018 Ltd — which owes more than $2 million — are considering their options to enforce an agreement for the sale and purchase of its shares in a subsidiary company.
An order was made in the High Court at Dunedin in March, 2023, to place Burns Group 2018 Ltd — of which beleaguered businessman Malcolm Burns is the sole director — into liquidation, on the application of Inland Revenue. The company’s shares are split between Mr Burns and Leonard Cheng.
It operated as a holding company with passive investment of three subsidiary companies: Titan Bulk Haulage — which is in liquidation — Otago Excavation — which is in receivership and liquidation — and Forest Distribution and Logistics. Mr Burns…
