Highland Homes was put into liquidation when its directors said the Covid-19 pandemic and difficult trading conditions made the company insolvent two years ago.
Late last month, Rodgers Reidy director Paul Vlasic issued his final report on the company and a notice to remove the company from the New Zealand Companies Register.
"A partial dividend of $7949.04 has been distributed to unsecured creditors.
"Unfortunately, there were insufficient recoveries in the liquidation to enable any further distributions to unsecured creditors," his final report said.
The company had $2179 in the bank when its account was frozen at the start of the liquidation process.
The sale of the company’s assets at auction generated $9020.
A total of $23,761 was claimed in GST refunds.
In total, $47,535 was realised through the liquidation and all of it was distributed, including auction costs of $1855 and liquidators’ fees of $31,603, the report said.
The remaining amount owed to unsecured creditors was $174,869, Mr Vlasic said.
His initial report in August 2022 showed more than 60 creditors.
It also said an investigation would be done to determine if any insolvent transactions had taken place and if there had been any breaches of legislation.
The investigations into the books, records and affairs of the company revealed nothing that could result in a benefit to creditors, the final report said.
The company was incorporated by director Craig Davidson in 2015 as Evolution Homes.
Its name was changed to Highland Homes in 2018.
