The liquidator’s report shows that East Imperial owes an estimated $22.2 million to creditors before the costs of liquidation.
Inland Revenue is the sole preferential creditor and is owed roughly $213,000, with secured creditors owed $60k, although a distribution of $60,112 has been made.
A further $604k is owed to unsecured creditors based on claims as of the date of the report, but the largest money owed is to intercompany liabilities, a significant $21,683,000.
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Other creditors of the company include BNZ, ACC, Mainfreight, MYOB and New Zealand Customs, although amounts owed to them are unknown.
Webb and Campbell have been able to recover $285,896 from the sale of assets, such as office furniture and…
