The Dominion Post (8 July) reports that a convicted killer is complaining that porn magazines and other “literary material”, including the taloid newspaper Truth Weekender are banned in jail. Details emerged earlier in the week about Stephen Thomas Hudson’s High Court civil action claiming a list of banned reading material given to him breached his right to freedom of expression. Hudson, 39, who is serving a life jail term for the murder of Nicholas Pike, was complaining that pictures had been confiscated from him. The Society points out that the NZ Truth (now replaced by the Truth Weekender containing very similar content) is viewed by many as promoting moral decay and degeneracy.
Liquidation of Truth Publications Ltd: Conflict of Interests? Phoenix Companies?
On 3 November 2009 the NZ Herald reported that the publisher of the tabloid newspaper NZ Truth, Truth Publications Ltd, had gone into liquidation owing “unsecured creditors and subordinated lenders $622,074”. A decision had been made to “sell its assets to the company’s masthead owner, Multimedia Solutions, for $70,000.” Truth publications Ltd (In Liq), directed by Dermott Malley, John Andrew Pin and Matthew William Horton, ceased trading on 31 August 2009 and was placed into liquidation on 21 October 2009. The NZ Herald notes: “A related party of Truth Publications called in liquidators Meltzer Mason Heath in September to find out how much the company would be worth.” (See companies diagram here.)
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What money is left for creditors of Truth Publications Ltd (In Liq)?
A liquidator’s report on Truth Publications Ltd (In Liq) dated 21 June 2010 has just today (5 July) been registered on the Companies Office website. It shows the balance for receipts and payments for the period ended 20 April 2010. A six-monthly report from the Liquidator was actually due out by 21 May 2010 informing creditors and shareholders on the conduct of the liquidation during the preceding six months. The report registered today only gives details on a meagre $5,850.79 of receipts comprising Pre Liquidation PAYE Refunds and GST Income. All of this money has been absorbed funding the Liquidator’s Remuneration and Disbursements, covering advertising costs, bank fees and GST Expenses. Whatever funds, however miniscule, are still held by the Liquidator, are subject to further costs of winding up. However, an estimated $622,000 is still owed to “unsecured creditors and subordinated lenders” as revealed in the first liquidation report. [Read more…]
Truth Publication (In Liq) owes $622,000 – “Outstanding filing obligations”!
The newly updated and reformatted Companies Office website was officially opened at 8 a.m. Monday 28 June 2010. It reveals as at 3 July 2010 that for Truth Publications Ltd (In Liq) – “There are outstanding filing obligations in relation to this companys insolvency”. The company was put into liquidation on 21 October 2009 and the Liquidator’s initial report highlighted that $622,000 was estimated as owed to “unsecured creditors and subordinated lenders”. The Liquidator’s six monthly report due out on 21 May 2010 has yet to be filed. [Read more…]
Truth Publications Ltd (In Liq) “owes $622,000”
On 3 November 2009 The NZ Herald reported that “Truth publisher owes $622,000? – based on the Liquidator’s First published report registered on the Companies Website on 29 October 2009.
“The 105-year-old NZ Truth [of which both “Dermott Malley and John Pin, were both directors and indirect shareholders”] has … gone into liquidation owing lenders and creditors more than $600,000.
” ‘It is unlikely there will be a distribution to creditors,’ he [the liquidator Lloyd Hayward] said.
“Unsecured creditors and subordinated lenders are owed $622,074 and include New Zealand Couriers, Warehouse Stationery, Vodafone, Mercury Energy and the New Zealand Herald.”
Source: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10606909