Building group in liquidation
PA Auckland Davison Group, Ltd, the Auckland-based commercialproject builder, has asked the Supreme Court to appoint provisional liquidators. The Court yesterday appointed Messrs P. D. Lane and M. J. Hill.
The managing director of ’ the group (Mr J. D. Davison) said the economic recession, which had affected the demand for commercial land and new buildings, was the main cause of the company’s problem but he anticipated being able to restructure the business. The company had disposed of a number of properties it has acquired in the mid--1970s but was still holding undeveloped commercial land valued about $5 million. The planned airport hotel ■ in which his company had an interest was not likely to be ■ affected and he was confident that arrangements could ■ ibe made to ensure compleItion of current projects. .1 The Davison Group pioi neered the design-and-build , concept in New Zealand . about 20 years ago and has built headquarters for many , well known companies, including the Northern Building Societv and Pye, Ltd. The ' company has a paid-up capital of almost $1 million.
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Press, 3 October 1979, Page 6
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177Building group in liquidation Press, 3 October 1979, Page 6
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