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Several liquidators approached by Stuff say the use dummy directors is sometimes reported to the Companies Office as conduct not consistent with being a good director.
Patsy directors are being appointed to companies just before they go into liquidation owing large amounts of money. Why? Martin van Beynen reports.
Stephen Bruce Murdoch, 36, is a mystery figure who gives his address as a state house in Manurewa in South Auckland but doesnt live there.
He is also the director of a company which owes about $88 million, not much less than titan construction company Mainzeal owed unsecured creditors when it went bust in 2013 owing $111m. But unlike the directors of Mainzeal, Murdoch had nothing to do with the $88m debts.
The myst…
Read the full article at: https://www.stuff.co.nz/business/300689945/welfare-beneficiaries-recruited-as-dummy-directors-as-companies-face-liquidation