Ex-All Black’s failed building firm owes $300,000 to IRD
Former All Black and Crusaders star Dave Hewett’s collapsed building company owes Inland Revenue unpaid GST estimated at $312,000.
Six of Hewett’s companies, including Bainbridge Homes, were put into voluntary liquidation on March 19.
Christchurch insolvency practitioner Brenton Hunt’s first liquidator report noted the Inland Revenue bill and that approximately $50,000 was owed to unsecured creditors.
The total amount of debt is still currently unknown, but much of it is unlikely to be paid.
Attempts had been made with Inland Revenue to settle the debt, Hunt’s report noted, including using past tax losses of the company.
The director decided to liquidate and move out of the construction industry, it said.
Three companies (secured creditors) had security interests registered against the company at the time of liquidation – Firth Industries, Steel Building Products Ltd and Mr Box Installations.
Hunt said it was not possible to provide a definitive statement as to whether sufficient assets would be realised to pay creditors, but that it was looking unlikely. The liquidation was likely to be completed within 12 months.
Hewett, 52, bought Bainbridge Homes in 2014 but was in serious trouble in 2020 when the company became insolvent.
A deal with creditors allowed the company to carry on with an extra director and two new shareholders.
A contractor, who asked not to be named, said his company was owed about $57,000 after the liquidations, and knew of others with unpaid bills.
“We were always chasing [Hewett] for money,” the contractor said.
Bryan and Michelle Noonan were left in the lurch with an unfinished $1.5 million house on Cashmere Heights.
Hewett played 22 tests for the All Blacks from 2001 to 2003, and was part of four Super Rugby-winning Crusaders teams.