PHOTO: Select Building Limited enters liquidation with little left to repay creditors — another blow for New Zealand’s shaky construction sector. FILE
⚠️ Canterbury Construction Chaos as Select Building Folds
In a fresh hit to New Zealand’s embattled construction industry, Christchurch-based Select Building Limited has officially gone under — leaving behind a trail of unpaid debts, minimal assets, and dozens of unanswered questions.
The company, incorporated in 2016 and known for mid-sized residential builds around Canterbury, was placed into liquidation on July 3, following a special resolution passed by its shareholders.
💰 $329,000 in Debt — With Almost Nothing to Recover
According to a report released by liquidator Brenton Hunt of Insolvency Matters Limited, Select Building is insolvent with more than $329,000 in liabilities and a bleak asset register.
Breakdown of the estimated debts:
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$210,000 owed to Inland Revenue and staff (preferential creditors)
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$150,000 owed to unsecured creditors
Meanwhile, the company’s remaining assets consist of:
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Two vehicles (both under finance)
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Basic plant and equipment
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Receivables just under $28,000
In short, there’s little left to claw back.
🧾 IRD Took Legal Action Before Liquidation
The company’s sole director and shareholder, Stephen Wayne Brett, attributed the collapse to project delays and tax-related issues, saying Select Building had fallen behind on its obligations while struggling to stay afloat on multiple job sites.
The Inland Revenue Department had already begun legal proceedings before liquidation was formalised.
🔍 Investigations Underway
Liquidator Brenton Hunt confirmed that no creditors’ meeting will be held unless requested in writing, and that staff have been formally terminated.
Investigations are now underway into:
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Company records and transactions
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Any director conduct or breaches
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The legitimacy of recent payments made before collapse
So far, no signs of associated companies or name changes have been disclosed.
🚫 Unsecured Creditors Unlikely to See a Cent
The outlook for unsecured creditors is grim. The liquidator noted there is “no realistic prospect” that any repayments will be made beyond what’s required for preferential and secured claims.
Secured creditors listed include:
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Fletcher Distribution
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Harrison Bloy
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Heartland Bank
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Hagley Building Products
The next update is expected in six months, with final conclusions pending full asset recovery and investigation outcomes.
📢 Creditors: Act Now
Any creditor or stakeholder with claims or additional information is urged to contact the liquidator by 4 August 2025 to ensure they are included in future communications and proceedings.