Tribeca Homes creditors circling

Tribeca Homes' director Mark Richards. Photo / Nick Reed

Creditors are circling Tribeca Homes, with three different firms applying to the High Court to liquidate the company.

Tribeca Homes last month admitted it was unable to honour 44 contracts it had signed with buyers to build homes across Auckland, despite taking more than $1 million in deposits. The majority of builds, worth $10 million in total, had yet to begin despite some contracts being signed more than three years ago.

Sole director Mark Richards, a chartered accountant, last month blamed subcontractors for cost overruns and shoddy workmanship for the situation and said Tribeca had been seeking to wind down the business for the past 18 months.

The company appeared in the liquidation list at the High Court at Auckland today on an application brought by Oborn Plumbing and Drainage.

Three other creditors appeared in support, which means that if Oborn discontinues the action, one of them can take it up.

As well as Oborn's action, the Herald has been told of two other liquidation applications being made by different creditors.

While being called in the liquidation list today, Associate Judge Jeremy Doogue agreed to adjourn the matter until next month.