A Nelson automotive company has filed an application to liquidate a Mosgiel trucking company which had its assets repossessed last year.
A public notice was filed last week stating that Lloyd Heslop Motors Ltd had filed an application in the High Court to liquidate Titan Bulk Haulage Ltd.
Last year, the transport company — which is owned by Burns Group 2018 Ltd — had its assets repossessed by Kiwi Asset Finance, a wholly owned subsidiary of Kiwibank.
Burns Group also owns Forest Distribution and Logistics Ltd and Otago Excavation Ltd.
The assets included multiple trucks, trailers, forklifts, utes and other machinery.
A report prepared by Kiwi Asset Finance after the repossession, which was publicly available on the Companies Office website, said Titan Bulk Haulage owed the finance company $1.47million.
In August last year, Kiwi Assets Finance withdrew from the repossession after the defaulted loan was settled.
When contacted, Burns Group co-owner and managing director Malcolm Burns told the Otago Daily Times on Thursday evening that the matter had been resolved and would no longer go to court.
However, the ODT understands that is not the case.
Lloyd Heslop Motors declined to comment.
The public notice states the application is to be heard in the High Court at Dunedin on March 3.
