A property development company controlled by Matthew Ridge has gone under at the behest of its shareholders but the television personality claims he is owed the most money from the wind-up.
Sunday, April 4th 2004, 1:07AM
by The Landlord
"I'm no dodgy businessman," said Ridge, explaining that he had tried to save the company by injecting large amounts of cash into it.
M3, which owned and developed a $3.8 million apartment site at 115 Remuera Rd, went into voluntary liquidation last Thursday, superseding a Christchurch creditor's claim for $40,000 over materials supplied to the eight luxury townhouses.
M3 creditor Tony Kiesanowski, a consultant to Christchurch law firm Young Hunter, said yesterday that he had applied to the High Court to withdraw his action to wind up M3, a matter due to go before the courts yesterday, because the company had gone into voluntary liquidation.
