Stanley Group


PHOTO: Ten Stanley Group and Tallwood companies were liquidated last week.

Directors of the failed Stanley Group of construction companies told the liquidator they now believe they under-priced a flagship Housing New Zealand (HNZ) project by as much as $2 million.

The first liquidator’s report into Stanley Group showed owed $10 million to staff and external creditors when it went into liquidation last week, liquidators say.

In the Stanley Group the top 10 creditors, mostly sub-contractors, are owed $3,143,610, an average of $168,205 each.


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