Stonewood Homes’ transactions could be reversed and redistributed, liquidators say

  • Creditors paid while Stonewood Homes was insolvent may have to give the money back.

A smattering of the 400 creditors out of pocket following Stonewood’s collapse showed up to a meeting on Friday to receive an update on the liquidation.

Media were denied entry to Friday’s meeting, but liquidator Rhys Cain said it involved holding two votes.

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GRANT MATTHEW/FAIRFAX NZ
Flo-Rite Drainage Limited is trading as usual following the collapse, but it had still been a blow. Pictured is managing director John Cooper after Friday’s meeting.

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