Securities Commission rules out statutory manager for Hartner

Directors file debt compromise schemes

The Securities Commission said today it would not recommend the affairs of Hartner Construction Ltd be turned over to a statutory manager, in place of the receiver and liquidator already appointed.

“The commission does not consider that the law about the appointment of statutory managers applies to Hartner Construction,” commission chief executive John Farrell said.

The commission met in Auckland last Thursday, 31 May, to hear submissions from individuals and organisations recommending Hartner be placed in statutory management, and also met Hartner’s receiver, liquidator, and representatives of the Companies Office and Serious Fraud Office.

“Representatives from the office of the Official Assignee and the Registrar of Companies have informed us that there are a number of matters in respect of Hartner Construction which they intend to investigate. These matters relate to concerns expressed by those making submissions to the commission.”

Meanwhile Hartner directors Wayne and Gaile Hartner have filed debt compromise schemes with the High Court, under part XV of the Insolvency Act.

Creditors have been called to a single meeting on both proposals at the Institute of Chartered Accountants in Ohinerau St, Remuera, at 11am next Wednesday, 13 June. Jeff Meltzer is provisional trustee for both schemes.

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