PHOTO: SHARNAE HOPE/STUFF Ten Stanley Group and Tallwood companies were liquidated earlier this month.
Stanley Group and Tallwood Holding’s liquidator has cut a deal with developer Solutions Street to pay out $380,000 to subcontractors.
Waterstone Insolvency principal and liquidator Damien Grant confirmed subcontractors for a Papakura KiwiBuild development were paid, but could not confirm if creditors for a Housing New Zealand (HNZ) development in Mangere, Auckland, would receive anything.
The first liquidator’s report into Stanley Group showed $10 million was owed to staff and external creditors.
Grant was in negotiations with other parties but these were subject to confidentiality provisions, he said.
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