Liquidator Of Decmil Construction NZ Limited Calls Meeting Of Creditors

The liquidator of Decmil Construction NZ Limited (the Company) has convened a meeting of the Company’s creditors to take place on Wednesday, 24 June 2020 at 4:00pm (New Zealand Time).

The meeting will take place by way of a postal ballot. The planning of a meeting has been difficult as a result of the COVID-19 pandemic and the consequent New Zealand government restrictions (which have continued to change over the last four weeks) regarding public assemblies.

The deadline for voting forms completed by the Company’s creditors is 4:00pm, Wednesday, 24 June 2020. An information session using the Zoom Audio Visual platform is scheduled for 2:00pm, Monday, 22 June 2020. Creditors wishing to attend the information session can register their interest using instructions sent to creditors today. Registration to attend the information session closes at 4:00pm, Thursday, 18 June 2020. Registered creditors will be provided with a secure link to access the meeting on the morning of 22 June 2020.

Decmil Construction NZ liquidator Dermott McVeigh said he had provided all creditors with details of the meeting. The meeting documents are also available on Avior Consulting’s website. Resolutions to be considered will be sent to creditors on Wednesday, 17 June 2020.

The main purpose of the meeting will be to consider a resolution to confirm the liquidator's appointment. The New Zealand Government’s Department of Corrections and Damien Grant of Tempest Litigation Funders have proposed to replace Mr McVeigh as liquidator with alternative nominees.

Mr McVeigh said he had been in regular contact with creditors to address a number of baseless claims made by Mr Grant and to articulate Avior’s strategy to achieve the best possible return for creditors.

“I look forward to providing creditors with the certainty that I will progress the Company’s liquidation as quickly as possible with a view to obtaining the best possible result for all creditors,” Mr McVeigh said.

“In my view, the only strategy that will achieve this result is to immediately pursue the Company’s NZ$60 million claim against the Department of Corrections.”

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