SPCS

SOCIETY FOR PROMOTION OF COMMUNITY STANDARDS INC.

Buildwise Ltd and the obligations of Liquidators under Companies Act 1993

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In accordance with Section 255 of the Companies Act 1993, Liquidators have a statutory duty to report to all creditors and shareholders on the conduct of the liquidation of a company during the entire period for which they have been appointed Liquidators.  Six monthly reports are required to be promptly issued following a company being placed into liquidation and these reports are to be lodged with the Companies Office by the Liquidator and filed on its website www.companies.govt.nz . (It is notworthy that Court-appointed company liquidations are on the rise according to latest figures available from the Ministry of Economic Development).

Buildwise Limited (Co. No. 714048), directed by David Bruce Crow of Inglewood, Taranaki, was placed into voluntary liquidation with Insolvency specialists, Meltzer Mason Heath of Auckland, on 3 July 2009, owing $380,000 to unsecured creditors and an “unknown” amount to preferential creditors and secured creditors, according to the Liquidator’s Report dated 3 July 2009 (53 creditors were “known” at the time and listed in this report).

However, since this initial insolvency report was issued, only two further Liquidator’s Reports has been filed and made available to creditors on the Companies Office website. The first covering the period 3 July 2009 to 3 January 2010 states: “It is unlikely that there will be funds available for a distribution to unsecured creditors”.  No information is provided as to funds that might be available to preferential creditors and/or secured creditors. [Read more…]

Steve Crow, banned company director, promotes porn sleaze on city streets

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On Wednesday 11th August at 12.30 pm banned company director Steve Crow and Miss Erotica 2010 will be heading a parade of scorpion tanks, motorcycles with bare-breasted pillions and vehicles down Queen Street Auckland – in order to promote Crow’s failing hardcore pornography empire. Eden Digital Ltd directed by John Malcolm Carr, a San Antonio Texas based CPA, is the business entity linked to the parade of tawdry titillation that promotes a forthcoming three day event – Erotica Lifestyles Expo – featuring a collection of imported US-based porn stars, sex toys and lewd acts. On Thursday 12th August at 12.30 pm the same boringly predictable parade will head through Hamilton city streets.

Steve Crow is intending to hand out $250,000 worth of free vouchers to those attending the porn parades, so they can purchase hard core pornography DVDs marketed by his failing business Vixen Direct. [Read more…]

Public need protection from directors with a history of unsuccessful ventures

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Section 385 of the Companies Act 1993 empowers the Ministry of Economic Development to ban company directors for up to five years who have a history of unsuccessful ventures. David Bruce Crow of Inglewood is sole director of Buildwise Ltd (In Liq) and also directs 435 Devon Ltd which faces imminent strike off from the Companies Office Register because of his failure to file the company’s annual return that was due on 30 April 2010. Here is yet another unsuccessful business venture involving one of the Crow brothers that appears soon to be hitting the proverbial fan and splattering its detritus and entrails around the legal and business community in New Plymouth. (Both David and Steve Crow were directors of 435 Devon Ltd when in purchased the New Plymouth RSA Devon Street property for $1.9M).

Unpaid creditors such as the  New Plymouth and District’s Returned and Services Association Inc. owed over $50,000 in unpaid interest on a $1.525 Million second mortgage and PMIT Nominees Ltd owed about two months interest on a $375,000 first mortgage they provided, could both well be left high and dry surrounded by detritus and debt entrails.

Conceptual Drawings adorn the 435 Devon Ltd website – seeking to paste a veneer over the vast cracks that hold the masonary of hubris and bravado together. Even a three year old -out-of-date – logo of an Architecture firm is affixed to each “concept plan” and the claim is made that ” The Architects are currently working on conceptual drawings with a number of options being considered”. One wonders if they have ever been paid. This firm has had no involvement in the project for about three years.

Stephen (Steve) Peter Crow who owns 50% of the shares of 435 Devon Ltd has claimed on national TV that hundreds of thousands of dollars of his and his brother’s money has been spent on architecture plans for the 435 Devon Street property that the company purchased for $1.9 Million. The planned Crow complex was called “Te Ara” (translated “The Pathway”). A better translation might well be, according to one local Maori elder: “The path to liquidation or receivership and a director’s banning”.

Is Porn funding-directorship – a family business worth crowing about?

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Stephen (Steve) Peter Crow appointed his brother David Bruce Crow of Inglewood and his sister Leanne Marie Osborn of Fitzroy, New Plymouth, as directors of HWGA Company Ltd – effective 15 May 2010. HWGA Co. Ltd currently owns 705,000 shares (40.38%) in CVC Group Ltd – a porn ‘mother company’ from which Steve Crow resigned as director effective 15 May 2010. Leanne Marie Osborn, who with her husband Larry Charles Osborn, owns 3,000 CVC Group Ltd shares, will now be serving the role of co-director of HWGA Co. Ltd along side her brothers Steve and David – an all the family affair in would appear – helping the shrinking porn industry. (Four porn companies owned by CVC Group Ltd and directed by Steve Crow have recently been placed in liquidation owing unsecured creditors and the IRD hundreds of thousands of dollars).

[Read more…]

Steve Crow appoints his brother and sister to direct HWGA Co. Ltd

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The major shareholder of porn ‘mother company’ CVC Group Ltd, from which Steve Crow has just resigned as director, is HWGA Co. Ltd which owns 40% of the CVC Group shares. Steve Crow who for the last ten months has been sole director of HWGA Co. Ltd and still remains its director, has today registered with the Companies Office, the appointment of CVC Group shareholder Leanne Marie Osborn. his sister and David Bruce Crow his bother, as two additional directors – effective from 15 May 2010. The Society lodged formal complaints with the Companies Office last year over the attempted appointment of David Crow as a director of HWGA Co. Ltd by Steve Crow and this led to the appointment (lodged as pending on the website) being withdrawn. [Read more…]