Timaru company owes IRD more than $900k
Friday, 1 August 2025
A Timaru plumbing and building company, one of two linked companies put into liquidation in recent weeks, owes Inland Revenue more than $900k.
GFY Limited was put into liquidation on June 12, at the request of Inland Revenue, with the official assignee appointed liquidator.
In the first liquidator’s report, the reason given for the liquidation of the plumbing and building contractor was a “failure to provide for taxation”.
GFY Ltd is linked to Nexus Services Ltd which was put into liquidation on July 24 at the request of Auckland-based financial services provider Buffer Premium Ltd.
Murray Bartlett was listed as the sole director and shareholder of both companies.
According to the first report, GFY Ltd had assets of $18,860 (realised to date) from accounts receivable and cash on hand. The value of the company’s other assets, including vehicles, plant and equipment, was yet to be determined.
The total owed to creditors was also yet to be determined, but Inland Revenue was owed $915,122.
The list of known creditors of GFY Ltd included preferential creditors IRD and employees, and potential and known creditors, Bunnings, Humes Pipeline Systems, Firth Industries, Hireworx New Zealand and Speirs Finance.
A list of known and potential unsecured creditors included companies based across the country, including in Christchurch, Dunedin, Gore, Motueka, Richmond, Wellington and Auckland.
The business ceased trading at the date of liquidation.
The liquidator planned to review the disposal of any assets prior to that date, including whether any vehicles or assets had been sold or transferred prior to or post their appointment, pursue outstanding accounts and issue payment demands “where appropriate”.
“The liquidator will complete a full investigation into the company records to determine if there are further assets to be realised, [a] shareholder’s current account to be claimed or any irregular transactions to be clawed back.
“It is expected that this investigation will be completed within 6 months.”
The estimated completion date for the liquidation was December 12.
The trading address of GFY Ltd was listed as 197 Evans St, Timaru, in the report.
On March 10, landlord Steve Parker told The Timaru Herald he had asked his tenant, Nexus Services, to vacate the premises at 197 Evans St as it had not met rent obligations.
At the time, Parker said he had “hounded and hounded him [then company director and shareholder Callum Bartlett] and chased him all around town and there was a bit of a push-around as well”.
“I got tired of chasing him for rent, so I asked him to vacate the place,” Parker said, adding he was owed about $6500 at the time.
Parker’s claims were put to Callum Bartlett at the time, but he did not respond.
Just days later, Nexus Services, which was registered in September 2017, changed hands.
Company records, updated on March 14, show original director and shareholder Callum Bartlett and parent company Some Amigos Ltd (solely owned by Callum Bartlett) were removed, with Murray Bartlett acquiring a 100% shareholding.
Murray Bartlett was previously a director of the company for just over two weeks from August 1-16, 2022.
Attempts to contact Murray Bartlett for comment were unsuccessful.
Steven Khov and Kieran Jones, of Khov Jones, were appointed joint and several liquidators of Nexus Services Ltd in the High Court at Christchurch.
They are yet to file their first liquidator’s report for Nexus Services Ltd, but have asked for creditors to file a claim by August 21. Inquiries should be directed to admin@khovjones.co.nz.