Timaru plumbing firm Nexus Services owes more than $550k

Tuesday, 2 September 2025

The liquidators of Nexus Services Ltd have been advised the company had no assets at the time of liquidation but say they are investigating the “disposition of the company’s assets”.

A Timaru plumbing firm that failed to pay its debts as they fell due owes creditors more than $550,000.

Of that, more than $360,000 is owed to unsecured trade creditors.

Nexus Services Ltd was put into liquidation in the High Court at Christchurch on July 24, following an application from Auckland-based financial services provider Buffer Premium Ltd.

A month before that, linked company GFY Ltd, which owes Inland Revenue more than $900,000, was put into liquidation at the request of the tax department.

Steven Khov and Kieran Jones, of Khov Jones, were appointed joint and several liquidators of Nexus Services Ltd and released their first report on Thursday.

The first liquidator’s report for GFY Ltd, a company linked to Nexus Services, shows GFY owed Inland Revenue more than $900,000.

“The liquidators have been advised that the reason for the failure of the company … is due to the company failing to pay its debts as they fell due,” the report said.

“To date, the liquidators have sent notices to the company’s officers and professional advisors … requesting the delivery of the company’s books, records and legal files.

“The liquidators have also frozen the company’s bank account and have issued notices to the secured creditors asking for details of their debt and securities.

“The liquidators are in the process of reviewing the company’s books and records to understand how the company’s assets were dealt with prior to liquidation.”

A statement of the company’s affairs as of July 24 shows $189,067 owing to secured creditors and $366,780 to unsecured creditors.

Nexus-branded containers on a section in Elizabeth St, Timaru, in March.

Companies based across the country are listed in the schedule of creditors alongside a number of Timaru companies including Dan Cosgrove Ltd, Glass Specialists Ltd, Heartland Containers Ltd and Heartland Technology Ltd.

The Timaru District Council is also owed money.

There were no assets listed, and the liquidators had been advised the company had no assets at the date of liquidation.

However, the liquidators noted they were “investigating the disposition of the company’s assets”.

Sole shareholder Murray Bartlett, pictured in October loading wood onto the train at the Pleasant Point Railway.

“The liquidators will take steps to identify and realise any assets of the company and continue their investigations into the affairs of the company to determine if there are any insolvent transactions and/or breaches of any relevant legislation by the company or its officers.”

The liquidators were still working through whether there were any unpaid wages, holiday or redundancy pay due to former employees and were yet to receive a claim from Inland Revenue.

They had found 12 security interests registered against the company and said secured creditors had 20 working days to realise property or file a claim.

Unsecured creditors were also asked to register claims.

It was too early to comment on any recoveries and the likelihood of a distribution at this stage, and it was not yet practicable to give an estimated date for completion of the liquidation, they said.

Murray Bartlett was listed as the sole director and shareholder of both companies.

Steve Parker advertised his woes with former tenant Nexus Services by installing signage on his Evans St property earlier this year.

Nexus Services, which was registered in September 2017, changed hands earlier this year.

Company records, updated on March 14, show original director and shareholder Callum Bartlett and parent company Some Amigos Ltd (which is solely owned by Callum Bartlett) were removed, with Murray Bartlett acquiring a 100% shareholding.

Murray Bartlett had previously been a director of the company for just over two weeks from August 1-16, 2022.

In March, landlord Steve Parker confirmed the company had been asked to vacate its former premises at 197 Evans St as it had not met rent obligations.

At the time, Parker said he had “hounded and hounded him [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 Bartlett at the time but he did not respond.

The same month, the Timaru District Council confirmed it was investigating a complaint about large signage the company had installed on a corner on the side of State Highway 1 through Timaru.