Feltex

PRESS RELEASE

 

The Liquidators of EXFTX Limited (formerly Feltex Carpets Limited) announce that they have entered into a full and final settlement of their claims against the company's former directors.

  The Liquidators were appointed in December 2006 and issued proceedings against the directors in 2009.  In 2010 the District Court found, after a 15 day trial concerning related issues, that the "overwhelming evidence" was that the directors had conducted themselves at all times with "unimpeachable integrity." 

  The District Court's findings naturally caused the Liquidators to reevaluate their claim, which was due to be heard in a trial starting next week in the Auckland High Court.  The Liquidators and the directors have today reached a settlement the terms of which, as is usual in such matters, are confidential.

  The Liquidators acknowledge that the settlement is entered into without any admission of liability by the directors.  This is reflected in what is a modest and pragmatic settlement reached on a costs saving basis. 

 

Feltex Carpets Limited (In Receivership & In Liquidation)
The Liquidators will provide regular updates on their progress of the liquidation and investigation into the books and records of the company. An update will be provided as a minimum every month.

Any meetings of creditors and/or shareholders will be posted on this website page.

The liquidators' first report and subsequent reports will be available here. The liquidators intend to post their first report to all known creditors. Any shareholders that would like to be included in mail outs please provide your name and address details (preferably with an email address) to feedback@mvp.co.nz.. The liquidators seek to reduce costs and will send reports by email to those that have provided email addresses.

SHAREHOLDERS

Click here for further information specifically for shareholders (including information of claims as creditors).

Creditors

Reporting

Statutory Reports

First Report

Second Report

Securities Commission Report

Response Securities Commission Release 10 October 2007

Receivers Six Monthly Report

Third Report

Fourth Report

Fifth Report

Sixth Report

Investigation Updates

Update 31 January 2007

Update 28 February 2007

Update 16 March 2007

Update June 2007

Update July 2007

Update October 2007

Updated November 2007

For further information or if you have information that may assist in the investigation, please contact the liquidators by email: feedback@mvp.co.nz