A gold trading business owned by a controversial local government figure has been put into insolvency, and liquidators are warning it doesn’t have enough gold and silver bullion to cover debts.
Liquidators were appointed to Guardians of Gold Limited in late August by its director and owner Andrew Hollis, due to concerns about its ongoing viability and its ability to pay bills.
Receivers joined the party in early September, appointed by an Auckland finance company that had lent Guardians of Gold money in late 2024.
Hollis is a former Tauranga city councillor, who served in the dysfunctional council that was sacked and replaced by a commissioner by Labour’s local government minister Nanaia Mahuta in 2021.
He was a…