The related party term loans – recorded at $6.7 million in liquidation reports – are due for repayment in December 2024 and December 2025. The funds are required to satisfy Tui’s liabilities, consisting mainly of $4.59m claimed by the Inland Revenue.
In April the BDO liquidators of Tui Terraces were confident the loans would be repaid with the proceeds sufficient to clear known liabilities of Tui Terraces.
“The Liquidators have contacted the related party debtors and await payment of the loan receivables when due,” BDO liquidators Iain Shephard and Jessica Kellow said in their second report dated April 3.
However, it is unclear what impact the statutory management of other Du Val entities, including Du Val New Homes LP, will have…
