NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / New Zealand

Point To Point building company goes into liquidation leaving homeowners in the lurch

Natalie Akoorie
By Natalie Akoorie
Local Democracy Editor·NZ Herald·
1 May, 2017 05:00 PM5 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Laetitia and Edward Lues, shown with baby Isabelle, paid $130,000 to Stephen Foley but have only an unusable foundation on their Gulf Harbour section. Photo / Doug Sherring

Laetitia and Edward Lues, shown with baby Isabelle, paid $130,000 to Stephen Foley but have only an unusable foundation on their Gulf Harbour section. Photo / Doug Sherring

A building company has collapsed owing almost $2 million to 130 creditors including 30 homeowners who have been left in the lurch, some of them for the second time.

Point To Point Holdings went into liquidation in January leaving 30 houses at various stages of construction between Tuakau and Whangarei.

For some of the homeowners it's the second time in as many years they have been stung by a building company, with homeowners in the Pukekohe and Tuakau areas also losing money when NZ Home Builders went into voluntary administration in 2015.

And Stephen Foley, the director of Point To Point Holdings, now renamed HPTP 2014 Ltd, once headed up another building company that collapsed, was previously made bankrupt, and was a banned director for almost three years, though not at the time Point To Point Holdings was set up.

Beachlands residents Stewart and Sonja Goodsir have spent more than $100,000 in building deposits with NZ Home Builders and Point To Point Holdings, which they fear is lost.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

The couple, in their 50s, signed up for two house and land packages in Pukekohe with NZ Home Builders.

Sonja Goodsir said they paid an $80,000 deposit for two homes to NZ Home Builders, and after the company went into administration they were put in touch with Foley whose company offered to take over a number of the builds.

This time the couple asked for their deposit to be held in a solicitor's trust account and took out Halo Insurance, a guarantee offered by Certified Builders for clients of members.

Advertisement
Advertise with NZME.

But Goodsir said it's not clear whether the money, about $20,000, was given to a lawyer and that after it was paid in August last year Foley stopped returning phone calls.

No construction took place on the sections and eventually the couple had to sell one and a boat they owned.

Goodsir said they were unsure whether to proceed and were awaiting the outcome of a claim lodged with Halo.

"I just feel like I've been quietly destroyed," Goodsir said. "It just takes a toll."

Edward and Laetitia Lues have paid $130,000 to Foley but only have an unusable foundation on their Gulf Harbour section.

The money, which the couple raised through an inheritance and using KiwiSaver contributions, included a $45,000 deposit for a 4-bedroom, 2-bathroom house.

"It's just been an absolute nightmare from the start," Laetitia Lues said.

When Point To Point Holdings went into liquidation Lues said Foley offered the couple a new contract, at almost $50,000 more, to complete the house with Maddison Homes, a company that his wife is the director of.

I doubt very much we will recover anything.

Stephen Foley

But the couple, who have two young daughters, declined. They are trying to sell the section and start again.

Liquidator Derek Ah Sam from Rodgers Reidy Accountants said recovery of the money owed, between $1.7m and $2m, looked unlikely.

Advertisement
Advertise with NZME.

Foley, 49, who lives at Gulf Harbour in Whangaparaoa, told the Herald the amount owed was $1.2m and that he was a victim too.

"There are matters that are being looked into which could lead to action being taken with past employees.

"We had an extraordinary amount of theft that went on within the company last year."

That theft combined with the continuing increase in building costs which could not be passed on to clients because of fixed-price contracts, resulted in the company's downfall, he said.

"Am I gutted, disappointed, all those emotional as you'd expect feelings? Yeah, absolutely. Am I angry about what happened to those homeowners? Absolutely. Which is why there will be civil action taken. I doubt very much that we will recover anything."

Foley said he started Point To Point Holdings to create employment and ran fine margins to help homeowners let down by other building companies.

Advertisement
Advertise with NZME.

"We were genuinely the good guys and we got screwed. If people think my wife and I financially gained from this then they would be wrong."

He would never do residential builds again, he said, and Maddison Homes was not trading. Foley would not say what line of work he was doing now.

Meanwhile creditor Roofworx NZ made an application in the High Court at Auckland for liquidation of two more of Foley's companies, Point To Point Construction and Metfix - a company that renovates methamphetamine contaminated houses.

Foley contested the application on Friday and it has been adjourned.

Certified Builders chief executive Grant Florence said he was aware of at least 10 homeowners who had made claims with Halo over the collapse of Point To Point Holdings.

Foley's membership had been terminated, he said.

Advertisement
Advertise with NZME.

Timeline

• June 2001: Red Hill Homes owned by Stephen Foley ceases trading, leaving a Papakura subdivision unfinished.

• August 2001: Foley adjudicated bankrupt.

• September 2001: Red Hill Homes in liquidation.

• October 2006: Foley banned as a director until July 2009.

• December 2014: Sets up Point To Point Holdings Ltd.

• October 2015: NZ Home Builders goes into voluntary administration.

Advertisement
Advertise with NZME.

• January 2017: Point To Point Holdings goes into liquidation.

Save

    Share this article

Latest from Business

Business|companies

New World customers warned after ‘password spraying’ attack

12 Jul 02:39 AM
Premium
Property

Auckland retiree faces eviction as ground rent jumps 344%

12 Jul 12:01 AM
Business|companies

Air India crash: Pilot asked colleague why he cut off fuel control switches seconds after takeoff

11 Jul 10:44 PM

Audi offers a sporty spin on city driving with the A3 Sportback and S3 Sportback

sponsored
Advertisement
Advertise with NZME.

Latest from Business

New World customers warned after ‘password spraying’ attack

New World customers warned after ‘password spraying’ attack

12 Jul 02:39 AM

New World's parent company Foodstuffs says none of its systems were breached.

Premium
Auckland retiree faces eviction as ground rent jumps 344%

Auckland retiree faces eviction as ground rent jumps 344%

12 Jul 12:01 AM
Air India crash: Pilot asked colleague why he cut off fuel control switches seconds after takeoff

Air India crash: Pilot asked colleague why he cut off fuel control switches seconds after takeoff

11 Jul 10:44 PM
Premium
Fran O'Sullivan: New Zealand must move on from Ardern criticism to get real benefit from Covid inquiry

Fran O'Sullivan: New Zealand must move on from Ardern criticism to get real benefit from Covid inquiry

11 Jul 09:00 PM
Gold demand soars amid global turmoil
sponsored

Gold demand soars amid global turmoil

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP