Fortune final bow closer

THE curtain hasn’t quite fallen on the Fortune Theatre but its descent gathered pace last night with a formal resolution to wind up the stricken performance venue and appoint liquidators.

After suddenly closing the theatre on May 1, at the end of that month the Fortune Theatre Trust board resolved to wind it up.

As a registered charitable trust entering voluntary liquidation it was required to hold a special general meeting to ratify that decision — a meeting held last night at Dunedin City Library.

The Fortune has already begun to shed its belongings, and an auction of theatre memorabilia was held a fortnight ago.

The Fortune believed it would able to meet its creditors, including those who had paid for subscriptions for friends or held prepurchased tickets, trust chairwoman Haley van Leeuwen said.

‘‘The theatre has paid all staff their entitlements and associated tax bills, but the trust still owes approximately $64,000 to creditors, which is inclusive of ticket holders,’’ she said.

‘‘We have $16,000 cash on hand and have yet to receive the auction sale proceeds and have assets still to be realised at future auctions . . . but based on the combined value of the asset sales and cash, we are confident that we can meet creditor obligations, and we do not expect to have anything left over.’’

One of the Fortune’s prized possessions, a Ralph Hotere sketch, was withdrawn from auction at the last minute.

Questions had been raised about the circumstances in which the artwork was given to the Fortune, and with that uncertainty it was decided not to sell it, Ms van Leeuwen said.

‘‘Our hope is that it can be returned to the Hocken Library permanently.’’

If other items of potentially historical significance were identified they would also be offered to the Hocken, she said.