The company, which provided installation and services of solar power, pool heating and hot water systems, has ceased trading and staff have been terminated.
The first liquidator’s report said Kiwibank holds a General Security Agreement – granting it security interest over the borrower’s assets – and is owed $1.8m.
Kiwibank had engaged Ruscoe and Keen to review the financial performance and viability of Solar Group in December last year, the report said.
That review was extended in February to include the company’s forecast performance and cash flow.
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Ruscoe and Keen said they were aware of nine potential employee claims.
So far, they had received four employee claims totalling $102,336, including…