Transport business appears to owe millions
A second Invercargill-based transport business, belonging to the same businessman, appears to owe creditors several million dollars.
In March, Invercargill-based Dixon Haulage — which worked predominantly for the logging industry — was placed in liquidation for failing to meet its obligations to Inland Revenue, consisting of overdue GST and PAYE together with associated penalties and interest.
In their first report, liquidators Kristal Pihama and Luke Norman, of KPMG, said the company's director, Owen Dixon, who is also sole shareholder, advised the company ceased trading in 2024 when his associated company, Dixon Transport, was placed in liquidation, and a number of secured creditors took steps to repossess assets used and secured by both companies. A liquidators' report last year showed total liabilities for Dixon Transport were estimated at more than $2.3million.
In the Dixon Haulage report, the liquidators said they were waiting for secured creditors who had elected to repossess assets to provide further updates in relation to the marketing and sale of those assets. The book value as at March 31, 2024, of total assets was just over $4m, while total liabilities stood at nearly $3.4m.
Mr Dixon is also listed as joint owner and one of two directors of KD Firewood, which was put into liquidation last month owing creditors just over $855,000. — APL
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Scoop
2 hours ago
- Scoop
North Canterbury Locals Get Say Over Huge Solar Farm
North Canterbury residents are being encouraged to have their say on a proposed 180 hectare solar farm on a property near their village. The Hurunui District Council has notified a resource consent application from Auckland-based Far North Solar Farm Ltd to build near Waipara, north of Amberley. At its peak The farm's 250,000 panels would generate up to 144 megawatts, enough to power an estimated 30,000 homes. The Waipara Residents' Association wrote to the council last year calling for the consent to be notified, and chairperson Steven Ellis says he is pleased the community will have a say. He says there are a range of views in the community. ''Everyone has their own views one way or the other for different reasons. ''Some can't see a problem and there's others who think it is not a good situation to have a solar farm this close to a village. ''It is obviously going to be something quite substantial.'' Mr Ellis encouraged residents to have a look at the application on the council's website and form their own view on how it might effect them and ''whether it is a good thing for the community or not''. A group of concerned residents formed Save Waipara Valley last year and set up a website, Save Waipara Valley founder Lizzy Kelsey urged concerned residents to make a submission. "Such a large-scale industrial development has no place so close to homes, or in our flourishing tourism district," she said. Among the group's concerns are the potential impacts on the environment, how the solar panels would stand up to ''North Canterbury's notoriously strong winds'', the risks to passing motorists from glare from the panels and the impact on property values. Hurunui District Council staff have determined ''the adverse effects of the application'' to the landscape and the visual effects are more than minor. Construction of the solar farm is expected to take around two years. The proposed solar farm is a joint venture between Far North Solar Farm Ltd, a solar energy asset developer based in Auckland, and Aquila Clean Energy Asia Pacific, a clean energy platform headquartered in Singapore. Submissions close on Thursday, July 24.
The Spinoff
5 hours ago
- The Spinoff
Listener and Woman's Weekly publisher Are Media is up for sale
The home of some of New Zealand and Australia's most popular magazines is looking for a buyer. But why now and who are the top contenders to take over? In 2020, the media landscape of New Zealand and Australia changed forever with the closure of Bauer Media. Covid-19 led to the German-owned business reviewing its global operations and deciding to exit the market here and across the Tasman. At the time, Bauer owned approximately 70% of the magazine market in New Zealand. The decision sent shockwaves through the industry, and led to the sale of the company's assets to various new owners. A number of Bauer's most successful Australian and New Zealand titles such as the Listener, New Zealand Woman's Weekly, Woman's Day and Kia Ora were sold to Sydney-based Mercury Capital, which rebranded the company as Are Media. The transaction was estimated to cost between $44-54 million and came just five years after Bauer paid $572m for ACP Magazines. Now, five years on from the purchase, the portfolio is once again up for sale. The decision to sell Are Media was confirmed in an email sent to staff members earlier this week from chief executive Jane Huxley: 'After careful consideration, Mercury and our Board have decided it's time to begin the process of finding a new owner for the Are Media Group.' Are Media was part of Mercury's $600m fund, which includes the likes of ticketing and event promotion and technology company TEG. It is one of four funds managed by the company, with the total amount under management by Mercury Capital amounting to approximately $1.3 billion. While it is common practice for equity firms such as Mercury Capital to purchase these types of investments, implement a lean management approach, and then sell quickly, Mercury has held Are Media for around five years. 'This decision comes from a place of strength and optimism. We've built incredibly strong foundations, and now it's time to take the next step,' Huxley told staff. Although the titles have retained a loyal following, declining circulation numbers and ongoing battles with advertising spend shifting to social and digital platforms has been an issue for the business – and indeed the industry as a whole. However, the Australian media market is faring slightly better than New Zealand, primarily due to Australia's larger population and more diversified economy. It is unknown if Mercury Capital intends to split the New Zealand assets from the Australian titles or sell them as a whole. If the assets are split, New Zealand's largest multimedia company NZME could be a frontrunner for the purchase of the New Zealand titles. The New Zealand Listener's online presence and subscriptions are currently managed by NZME's subsidiary the New Zealand Herald. The Listener magazine remains the country's second-most popular magazine, behind only to AA Directions. Last year, the Listener increased its readership to 220,000, up 2,000 compared from 12 months earlier. NZ Woman's Day was third and Kia Ora in fourth, with readership increasing by 14,000 to 145,000 and by 12,000 to 137,000 respectively. The sale will be led by KPMG, and follows a recent announcement of a strategic partnership between Are Media and United States publishers Dotdash Meredith. 'I know that announcements like this can create uncertainty, and that's completely normal,' the email read. 'We've built strong foundations over the five years, and now it's time to take the next step. In the meantime, we are focussed on business as usual.'
Scoop
5 hours ago
- Scoop
Te Tai Tokerau Impact Fund Supports 15 More Regional Initiatives
The final round of the Te Tai Tokerau Impact Fund has been allocated, with 15 Northland-based projects receiving a combined $230,000 in support. The second round attracted 42 applications seeking over $700,000, highlighting strong demand for early-stage investment in community-led development. A third of the funded projects from the second round are Māori-led. 'The quality and ambition of projects coming through this fund has been very high,' says Vaughan Cooper, Head of Investment and Infrastructure at Northland Inc. 'From community wellbeing, promotion of our districts, and Mātauranga Māori, it's clear that Northlanders are ready to lead the change they want to see.' The Te Tai Tokerau Impact Fund is administered by Northland Inc and NorthChamber, with support from Transpower and Omexom. It was created to back community and kaupapa-driven projects that contribute to long-term regional resilience. Across two rounds, the fund has now distributed $430,000 to 32 projects throughout the region. Projects funded through the two rounds of allocations are already underway, with initiatives such as Girls Who Grow launching its climate-positive agriculture programme for young women into Taitokerau Northland, and the Kerikeri District Business Association and Bay of Islands Business Association rolling out a groundbreaking project focused on CCTV and community safety in the Mid and Far North. NorthChamber Chief Executive Leah McKerrow, who was part of the fund's decision-making panel, says the calibre of applications highlighted the region's determination and desire to make a difference. 'This fund gives communities the chance to lift up great ideas and turn them into action. The panel was keen to support those ideas that will make a tangible and far reaching impact. It's positive to see the difference this funding is already making on the ground in Te Tai Tokerau.' Transpower's Executive General Manager Customer and External Affairs Raewyn Moss supported this view. 'We are so pleased to see this funding empowering real opportunities for development, community-building and increased resilience across Taitokerau Northland. We look forward to the stories of the impact the funding has and the achievements from the initiatives that were successful in this funding round.'
