By GREGG WYCHERLEY
One of New Zealand's biggest construction companies, which is building the new $50 million Hilton Hotel on Princes Wharf, has gone into voluntary receivership.
Hartner Construction, New Zealand's fourth-largest building firm, last night called in receivers PricewaterhouseCoopers to take control of the company.
Security guards later ordered subcontractors working
at the Hilton Hotel site to leave the site.
About 250 subcontractors are expected to be locked out this morning.
News of the receivership comes as the Coalition Government prepares to announce today details of legislation to protect subcontractors from similar situations.
PricewaterhouseCoopers spokesman John Waller confirmed that the company had been appointed receivers of Hartner Construction and would take control of its building sites today.
The Onehunga-based firm, which had a $140 million turnover last year, built five of the six large apartment-retail blocks on Princes Wharf.
Construction company Goodall ABL, which built the other block, went into liquidation last March owing 400 subcontractors and suppliers $20 million.
Hartner has recently been locked in some high-profile battles, including a court dispute with a collapsed construction firm which worked on many of its building sites.
Liquidators for Alotech Walls and Ceilings claimed Hartner owed the company $1.3 million.
Hartner rejected the claim, saying Alotech owed it $1 million.
Alotech worked on various Hartner sites, including Princes Wharf shed 20 and shed 21, the six-storey Gladstone serviced apartments on the corner of Gladstone Rd and The Strand in Parnell, and the $8 million Eden Quarter retail and office complex on the corner of Dominion and Ewington Rds.
Alotech owes at least 55 creditors $2.9 million. It was placed in liquidation last June.
Hartner has also been in dispute with developer David Henderson over the Princes Wharf project, claiming that $3.5 million is owed on the first stage of the building work.
Mr Henderson disputes the figure.
