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. According to the Liquidator “the first and final dividend to creditors” will only be able to be paid when sale of Truth Publication Ltd business is settled (it was sold prior to liquidation, excluding the masthead Multimedia Solutions, which is not owned by the company). “Settlement of this transaction is expected shortly” the Liquidator, L. J. Hayward, reported on 21 June 2010. The directors of Truth Publication Ltd are listed as Dermott Malley of Drury, South Auckland and John Pin of Greenhithe, Auckland.