Poirier is the founder and chief executive of Toronto-based boutique consultancy The Poirier Group, established in 2005 after a career in senior executive roles across national and international organisations.<\/p>\n
Despite the sale of the operating business, Inland Revenue applied to the High Court at Auckland on June 5 seeking to place the former company into liquidation, which was enacted on August 7.<\/p>\n
However, a month earlier on July 2, 2026, six companies related to NZBG were also placed into liquidation by the High Court at Auckland on petition of the Commissioner of Inland Revenue.<\/p>\n
The six companies included CSL Limited (CSLL), CSL Management (CSLM), a company formerly known as NZ Build Group Management (NZBGM), a company formerly known as NZ Build Fund Management (NZBFM), a company formerly known as NZ Build Projects Regional (NZBPR) and Platform People (PPL).<\/p>\n
Teneo Financial Advisory New Zealand\u2019s Stephen White and Janet Sprosen were appointed joint and several liquidators.<\/p>\n
The pair\u2019s first liquidators\u2019 report shows the companies\u2019 insolvencies resulted primarily from a \u201csignificant decline in construction activity\u201d.<\/p>\n
This led to a reduction in available work, resulting in revenue and cash inflows falling below the level required to meet operating costs and tax obligations.<\/p>\n
In addition, several companies relied on financial support from related entities within the wider group.<\/p>\n
\u201cAs the financial position of the group deteriorated, that support was no longer available, further worsening the companies\u2019 liquidity constraints and ultimately contributing to their insolvency,\u201d the report said.<\/p>\n
Five of the six companies owned no assets, and four recorded no overdrawn shareholder current accounts.<\/p>\n
CSLL had no physical assets, but recorded a debit shareholder current account of $55,342.<\/p>\n
CSLM was the only company with a registered asset, a marina berth in Bayswater, Auckland, with liquidators reviewing the position of a shareholder current account associated with it.<\/p>\n
White and Sprosen state in their report that there is a significant volume of related party and intercompany transactions, which the pair were investigating.<\/p>\n
For secured creditors, CSLL and NZBFM had no security interests registered against them.<\/p>\n
CSLM had one security interest registered against it for all present and after acquired personal property, listed as Scottish Pacific Finance NZ. <\/p>\n
Both NZBGM and NZBPR had one security interest registered against them of the same type, listed as Bizcap NZ.<\/p>\n
PPL had two security interests registered against it, one for all present and after acquired personal property listed under L & F Limited, with another interest for goods listed under Cirtex Industries.<\/p>\n
None of the companies had employees at the date of liquidation.<\/p>\n
Petitioning creditor costs for three of the six companies had not been received by the liquidators at the date of their first report, but debts to creditors of the class total $8464.43.<\/p>\n
The largest preferential creditor at this stage is the Inland Revenue Department (IRD), which is owed a combined $1.45 million. NZBGM had the highest claim, listed at $1.01m.<\/p>\n
White and Sprosen said they had received insufficient information to estimate the number of unsecured creditors, nor the amount outstanding to them at the date of the first report.<\/p>\n
However, based on the companies\u2019 combined statement of affairs, unsecured creditors were owed a preliminary total of $1.66m, again with the majority owed by NZBGM.<\/p>\n
Listed creditors at this stage include the secured creditors, alongside the Accident Compensation Corporation (ACC).<\/p>\n
White and Sprosen said they were unable to estimate the likelihood of a distribution to creditors or a completion date for the liquidation.<\/p>\n