Hope for Fowlers brand in Taranaki
Liquidators dealing with the demise of a Taranaki building firm have confirmed they are seeking to recover almost $500,000 from the former owner.
The news comes as the man attempting to resurrect Fowler Homes Taranaki gave more details of his plans for the future following a meeting with subcontractors owed a share of the former company’s $1.2 million in liabilities.
Ivan Stanicich, who has owned the Christchurch franchise of Fowler Homes for 18 years, was in New Plymouth on Tuesday meeting with firms left in the lurch by Lauchlan James MacMillan, the former licensee for the brand in the region.
MacMillan, who was arrested in October during a series of drug raids by the organised crime group, had his licence to use the Fowlers brand terminated last month and his company was placed in liquidation on November 9.
Stanicich addressed a large group of creditors, including tradesmen and suppliers, who packed into the company’s Corbett Rd offices.
‘‘There was certainly some concern in the room and some disappointment at how it has all unravelled,’’ the businessman said after the meeting.
‘‘I guess I would have expected that, because these people have been personally affected financially and emotionally, because many of them were Locky’s friends.’’
The liquidator’s first report shows the business had liabilities of $1,210,543 to 84 creditors and assets totalling $1,041,442, leaving its books $169,101 in the red, but the figure is expected to increase.
The report shows the business’ shareholder current account was overdrawn by $483,175 and liquidator Gareth Hoole, of Ecovis KGA Chartered Accountants, confirmed they would be seeking to recover it from MacMillan.
Hoole also confirmed that while Stanicich was taking over eight home build contacts from MacMillan’s company, he was not liable for the money MacMillan owed.
Stanicich said the police had told him the business had been cleared of any involvement in MacMillan’s alleged drug dealing or criminal activity. ‘‘The only person taking money out of the business was the prior owner himself.’’
Stanicich said while there had been criticism about a lack of action by Fowlers New Zealand, neither he nor the licensor had any control or responsibility. ‘‘For me to be in position the following week (after the liquidation) down here and starting to unravel things was probably the best that could be expected.’’
While the MB 10-year guarantee gave the owners some certainty their homes would be completed Stanicich, who has been the president for the Canterbury Master Builders for four years and last week registered a new company – Fowler Homes Taranaki Limited – with his wife Michelle, felt it was important Fowlers were involved.
‘‘I just feel it needs to be done and it needs to be done by our own brand and not somebody else.’’
Stanicich believed there was a core group of subcontractors and suppliers willing to work with him.
‘‘It has been humbling for me to see those people, whilst they are hurting, put their hands up and say we want to get these homes finished.
‘‘Most of the tradies, the feeling that I got from what I said, I haven’t done anything yet, but from what I said they are trusting my word.’’
Work began on completing two of the homes this week and Stanicich hoped there would be a future for Fowlers Homes in the region although he was under no illusion it would be easy.
‘‘Getting the homes finished for these clients that’s the primary concern and if we can do a good job then our brand should recover from the damage that has been caused.
‘‘I wouldn’t have come up here if I thought it was hopeless or if I thought that there wasn’t a future.’’
MacMillan remains in custody facing a raft of charges including the sale and supply of Class A drug methamphetamine, to which he has pleaded not guilty, and will appear in the New Plymouth District Court on January 31.