The former franchise owner of Signature Homes in Otago - placed in voluntary receivership owing an estimated $1.3 million nine months ago - has been adjudged bankrupt in the High Court in Dunedin over a $64,000 debt.
Two separate applications to place Murray Wilson, of Brighton, into bankruptcy were made yesterday; by Fletcher Steel Ltd and Carters, a building materials division of Carter Holt Harvey Ltd.
Mr Wilson placed Murwil Construction Ltd, the Signature Homes franchisee in Otago since 2007, in voluntary liquidation in early July 2009, saying at the time a $160,000 debt had tipped the balance.
The liquidator's first report last August, which has not been updated, estimated more than 160 mainly Otago businesses could have little or no claim on the $1.3 million which may be owed by Murwil Construction to secured and unsecured creditors, saying a dividend was unlikely for the latter group.
In the High Court in Dunedin yesterday, Associate Judge Osborne adjudged Mr Wilson bankrupt over a $64,745 debt to Fletcher Steel.
Mr Wilson failed to appear and was not represented by any legal counsel.
Following Mr Wilson being adjudged bankrupt, legal counsel for Carter Holt Harvey withdrew its application for bankruptcy, but told Associate Judge Osborne costs would be sought.
• In August last year, Signature Homes parent company chief executive Phillip Howe made an undertaking that Signature would take over and complete, under guarantee, the 10 homes under construction in Otago and Southland, at the time of Murwil Construction's liquidation.
Mr Howe was contacted yesterday and said of the 10 homes, four were either still under construction or awaiting code of compliance, and the balance of six had been completed.
The Invercargill franchisee of Signature Homes is at present setting up a office in Dunedin, he said.
