Tasman Mortgages placed in liquidation
Tasman’s parent company, Lombard, yesterday appointed liquidators to the group following a tax dispute which dates back to Tasman’s former owner – Bluechip.
Lombard Group acquired 70% of the shares in the Tasman Mortgages Group from the Blue Chip (now called Northern Crest Investments) in July 2007 for $50,000 in cash with the balance of the purchase price to be paid on an earn out basis. It then, earlier last year, agreed to acquire the remaining 30% of the shares for no consideration.
Last month the Inland Revenue Department sought to wind up Tasman Mortgage Brokers due to unpaid tax for a period prior to when Lombard bought a shareholding in Tasman.
Lombard chief executive Michael Reeves says one of the obligations of the vendor, Northern Crest, was the vendor would meet all taxation liabilities arising prior to the date of settlement.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
