Teak Construction collapse: Who holds security over the failed builder?
These businesses could stand ahead of unsecured creditors in the liquidation. Teak worked on big projects, meaning those creditors could be owed millions by the substantial builder. It spent years doing the $72 million repair of the defective apartment building, Victopia. Shareholders appointed liquidators to Auckland’s Teak Construction on March 2. Photo / Teak Construction…

