Mark Hotchin winds down business

Mark Hotchin has voluntarily liquidated another of his businesses.

Aldersgate Insurance was set up in 2004 to offer payment protection and credit insurance to clients of Hanover's finance companies.

Last month insolvency specialists McDonald Vague were appointed to wind down the business.

McDonald Vague's Peri Finnigan said from the accounts it appeared the company had stopped trading a year ago and the liquidation was just a formal closing down of the business.

A court date of July 22 has been set for creditors claims.

Finnigan said the court date was a formality to allow creditors to lodge objections but she had been told that all external creditors had been paid.

"It is solvent. All creditors have been paid."

Hotchin wound up several other businesses in July last year.