More than $400,000 in surplus funds and assets belonging to the former Whangārei Hearing Association will be given to a philanthropic hub that helps charitable and community causes.
An order for distribution of about $420,000 was made by the High Court following an application by liquidators Stephen Bennett and Timothy Hoyle, who wished to wind up the association's affairs that began more than a decade ago.
In October 2007, the court ordered the association should be liquidated as its affairs had been grossly mismanaged.
The fall of the association centred around the dealings of former manager Mark Whitfield, and his wife, Erika Kemp, the president who were at the helm when the 40-year-old organisation was ordered into liquidation after a Crown Law inquiry into the books in 2007.
In the 2007 liquidation hearing's report, the High Court said Kemp had demonstrated "naivete and lack of commercial intelligence''.