Contractors owed money by a Queenstown property developer say they were chasing payments long before the related entities went into liquidation, describing disconnected phone lines and a quiet construction site.
“We get so sick of these people,” says a manager are Safety Nets NZ Ltd, which is also owed money in the Du Val Group statutory management. “It happens all the time where they claim they’ve gone broke, and then they start another company and keep trading while all their contractors get ripped off.”
Formcrete Construction, Falconer Corporate and two connected companies were placed in liquidation by the High Court at Rotorua, by application of Inland Revenue. Formcrete and Falconer, which both list Nicholas…