A Christchurch property development company has been placed into voluntary liquidation after a completed development failed to generate enough proceeds to pay all creditors.
Eversham Limited was placed into liquidation on 13 November, with Brenton Hunt of Insolvency Matters Limited appointed as liquidator.
According to the liquidator’s initial report, the company is insolvent.
The report said the company completed a property development, but the sale of the units was not sufficient to meet all creditor claims.
The director sought professional advice and decided to place the company into voluntary liquidation.
The development was a block of townhouses on Bewdley Street in Spreydon.
Inland Revenue is listed as a preferential creditor…