KEY POINTS:
Collapsed home builder Balmoral Homes was planning to establish a franchised business in Auckland.
But a financial specialist said they never got around to starting any houses in the region.
Wayne Deuchrass, of Insolvency Management in Christchurch, said Balmoral had registered a company for an Auckland business.
That company had not begun business and Balmoral appeared to be focused on Christchurch. Unsecured creditors are owed at least $1.8 million, he said, but he was still examining the business and was yet to release a full tally.
Balmoral Homes also registered companies in Nelson and the West Coast and appeared to have fallen victim to the housing downturn.
Deuchrass said the other Balmoral entities appeared to be shell companies which had never traded.
About 11 homes are unfinished and about 190 creditors, including subcontractors and customers, have claims against the company.