A long list of businesses have financial securities registered over failed Auckland builder Teak Construction Group, whose owners put it into liquidation on Monday.
The liquidators’ first report is yet to emerge from PKF Corporate Recovery, naming secured or first-ranking creditors and unsecured or second-ranking creditors.
But some of the biggest names in New Zealand have securities, including Fisher & Paykel Appliances, PlaceMakers, Carter’s Building Supplies and ASB.
The Personal Property Securities Register shows who has a hold over the builder and could be near the front of the queue to be paid from any money realised by the liquidators.
These businesses could stand ahead of unsecured creditors in the liquidation.
Teak worked on big projects, meaning those creditors could be owed millions by the substantial builder.
It spent years doing the $72 million repair of the defective apartment building, Victopia.
Fisher & Paykel Appliances is registered for supplying electrical equipment and whiteware.
The register showed major trading bank ASB is on the list. The bank’s New Zealand operations are headquartered in Auckland and it employs 5500 staff in this country.
Another financier also has security over Teak: DLL or De Lage Landen B.V. of the Netherlands.
DLL is a global asset giant that specialises in commercial and equipment finance. Its parent is Rabobank Group.
UDC Finance is registered due to extensive vehicle finance. The Auckland-based company, formerly owned by ANZ Bank, is a subsidiary of Japanese financial group SBI Shinsei.
Metropolitan Glass & Glazing, based in the East Tāmaki business park, Highbrook, registered its interest this decade.
Carter’s Building Supplies registered for supplying timber, pre-cut and pre-nailed frames and trusses, plasterboard, fibre cement board, wet-wall linings, roofing, insulation, rolled products, steel, concrete mesh and rod and other supplies.
Geosynthetic, civil and infrastructure materials business Cirtex Industries registered its security over Teak last decade.
Allied Concrete, Ewing Insulation and bathroom, laundry, kitchen and plumbing supplier Mico New Zealand also have security.
Power tool supplier Hilti New Zealand is on the list, along with locally-owned Porter Finance, which is part of Porter Group, established in 1999.
Cement and aggregates supplier Holcim (New Zealand) and Fletcher Distribution’s PlaceMakers appear.
Avondale-based family-owned and operated Monaghan Sheetmetals registered its interest in 2022.
Balustrade, awning and outdoor living supplier HomePlus North Shore of Wairau Valley registered its interest only two years ago.
Asphalt specialist Pro Magma Co registered its security in 2024.
Steel fabrication business Black Steel Mobile is on the Personal Property Securities Register list, along with Dayle Timber.
Lighting business Hafele is on the list. It arrived here in 1989, but globally, it celebrated its centenary in 2023.
Scaffolding specialist Camelspace registered its security for hired and supplied goods.
Commercial specialists Ideal Fitouts registered its security for supplying partitions and other building materials, plant and goods.
Insulation business Kingspan registered for supplying goods and building products.
Companies Office records show Teak Construction is 33.33% owned by:
- Stamford Bridge Trustee, directed by Teak Construction managing director Wayne Birchall;
- Robyn and Stuart Charlton’s Playing In the Sea Trustees;
- Samuel White’s Ngataringa Trustee;
- Birchall has a further 0.01% holding in his own name
Birchall, White and Stuart Charlton are directors of Teak Construction, which traded from 15 Sale St, near Victoria Park.
PKF liquidator Steve Lawrence said he and fellow liquidator Chris McCullagh have secured four Teak sites in Auckland and one in Hastings.
Their initial report could be filed on Monday.
Anne Gibson has been the Herald’s property editor for 26 years, written books and covered property extensively here and overseas.
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