PHOTO: Ebert failed in 2018, owing creditors almost $120 million.
Ebert creditors have been dealt another blow.
The construction company failed in in 2018, owing creditors almost $120 million.
Liquidators of the construction company took Wakefield Plant to the High Court in Wellington, seeking the repayment of transactions made days before Ebert Construction (ECL) went into receivership.
Wakefield Plant shared directors and shareholders with Ebert, including Kevin Hale.
The two companies, and a third within the same group, guaranteed and gave security to the BNZ for each other’s loans.
Wakefield had a facility with the bank from which it could draw several million dollars.
It would do this from time to time and advance the money to Ebert, associate judge Dale Lester said in his judgment.
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