Former Hawkins Group companies, including Orange H Construction, owe more than $40 million to subcontractors following liquidation.
Around 1000 firms are owed money according to a document by BDO liquidators Andrew Bethell and Andrew McKay, the NZ Herald reports.
This includes $400m in related-party lending and $37.5m owed for retention payments or to trade creditors.
A separate BDO report also shows creditors are owed another $3.9m by two other related companies.
Orange-H Group was put into receivership in May. Spokesman David McConnell made a statement at the time saying the board and management were working with creditors.
“The board and management have worked very hard and been in close negotiation with Orange-H Group’s leading creditors but the process to secure final payments from the various customers has been complex and has taken a lot longer than anticipated and created a cash flow timing issue.
“We were also concerned that a number of parties were commencing legal action and we were mindful of our responsibility to exercise our fiduciary duties,” McConnell said.
