By ANNE GIBSON
An Auckland property company has gone under, owing at least 45 subcontractors $1.5 million.
Wise Lass Residential Ltd, whose sole director is Deborah Shuttleworth, was liquidated last Thursday on the application of cartage contractor E. J. Bull and 11 others.
Court-appointed liquidator Bill Ferguson, of Montgomerie & Associates, said the
creditors were mainly building subcontractors and suppliers, particularly plumbers, painters, concrete cutters, hardware suppliers, ceiling installers and glaziers.
Wise Lass was involved in three properties: 31 terraced houses in a development at 17 Harbour View Rd in Te Atatu; 24 commercial/residential units at 3 Tironui Station Rd in West Takanini; and nine homes and foundation work for a further six homes at 40 Constable Rd in Waiuku.
Wise Lass has links with three-times-bankrupt property developer Graeme Raymond, according to Richard Downey, of Olsen-Everson real estate agents.
Mr Downey presented an affidavit to the High Court at Auckland in July for an interim liquidator to be appointed to Wise Lass. Mr Downey told the court he had been asked by "various creditors" of Wise Lass to present evidence he had obtained on their behalf.
In that affidavit, Mr Downey stated to the High Court: "Graeme Brent Raymond, who is currently bankrupt (being two years into his third bankruptcy) is involved in a personal relationship with Deborah Marie Shuttleworth, who is carrying his unborn child, and is, by his words and actions, demonstrating control and management over Wise Lass and by implication other companies also operated by Shuttleworth."
Mr Downey said Placemakers was owed $487,000 by Wise Lass for the Harbour View Development.
Last week, Associate Commerce Minister Laila Harre announced that she had cabinet approval for a bill to protect subcontractors, who are last in line to be paid when a building firm goes under or a dispute arises over payment.
