LIQUIDATORS FIRST REPORT Section 255 of the Companies Act PINTSIK FOODS LIMITED (IN LIQUIDATION) Trading as KAIROS PIZZERIA

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1 COMPANY NO LIQUIDATORS FIRST REPORT Section 255 of the Companies Act 1993 PINTSIK FOODS LIMITED (IN LIQUIDATION) Trading as KAIROS PIZZERIA On 29 June 2015 at 4:40pm, Jessica Jane Kellow and Heath Leslie Gair were appointed liquidators jointly and severally of Pintsik Foods Limited by a special resolution signed by the shareholder. We have made the appropriate enquiries and are of the opinion that we are not barred from acting as liquidators under Section 280 of the Companies Act The Liquidators take no responsibility for any misinformation contained in this report that has been supplied by the company, its officers or other persons. The report is also based upon information available at this date, the Liquidators reserve the right to renew, and if necessary, amend the report. COMPANY INFORMATION Date of incorporation: 24 June 2013 Trading address: Type of business: 100 Tory Street, Te Aro, Wellington Pizzeria and bistro Date ceased trading: Early June 2015 Director and Shareholder: Anthony Santos Maglaque BACKGROUND Pintsik Foods Limited (In Liquidation) ( the Company ) was originally incorporated as Medifoods Limited, and traded as Mediterranean Food Warehouse. The business operated as a Mediterranean café and bistro under a franchising agreement. The Company had incurred significant borrowings at inception in order to fit out the premises. After it became apparent that the business was not achieving sufficient turnover, the Company agreed to end the franchising agreement, and underwent rebranding to become Pintsik Foods Limited trading as Kairos Pizzeria. The business continued to suffer from a lack of customer footfall and high competition in the local area. The lack of cash-flow meant the Company was unable to service its creditors, and

2 combined with the burden of the Company s loans, the Company became insolvent. The Director / Shareholder closed the pizzeria in early June The Shareholder subsequently sought professional advice, and resolved to place the Company into liquidation. PROPOSALS FOR CONDUCTING THE LIQUIDATION The Company has various assets, some of which may be subject to security agreements. The Liquidators have requested security documentation from the secured creditors. The Liquidators will review all documentation before agreeing to the release of any assets. The Liquidators intend to sell any unencumbered assets for the general benefit of the Company s creditors. The Liquidators will conduct an investigation of the company s books and records to further establish if there are any potentially voidable transactions that require investigation, and further to ensure that the directors have complied with the duties and obligations imposed on them under the Companies Act STATEMENT OF POSITION The Liquidators have prepared an Estimated Statement of Position of the company as at the date of liquidation. MEETING OF CREDITORS A liquidator may call a meeting of creditors in order to decide whether to appoint a replacement liquidator. Having regard to the assets and liabilities of the company, the likely result of the liquidation and other relevant matters, the liquidator considers in accordance with Section 245 of the Companies Act 1993, a meeting will not be called unless, within 10 working days after receiving this notice, a creditor gives notice in writing to the liquidator requiring a meeting to be called. In accordance with Section 314 of the Companies Act 1993 a creditor or shareholder may request the liquidator to call a meeting of creditors or shareholders at any time in the course of the liquidation to vote on a proposal that a Liquidation Committee be appointed to act with the liquidator. This request must be in writing. The liquidator may decline a request by a creditor or a shareholder to call a meeting on the ground that: (a) (b) (c) the request is frivolous or vexatious; or the request was not made in good faith; or the costs of calling the meeting would be out of proportion to the value of the company s assets. The decision to decline a request may be reviewed by the Court on the application of any creditor or shareholder.

CREDITOR S CLAIM FORM Please find enclosed a Creditor s Claim form. Creditors should complete and return this form to the above address on or before 31 July 2015.

3 CREDITOR S CLAIM FORM Please find enclosed a Creditor s Claim form. Creditors should complete and return this form to the above address on or before 31 July Creditors who do not make a claim within this period may be excluded from any distribution that may be made. Should you be of the opinion that you hold a security interest this should be noted where appropriate on the form and advised to us immediately, along with the appropriate supporting documentation. ESTIMATED DATE OF COMPLETION It is not practicable to estimate the date of completion of the liquidation at this stage. Should you have any information that you believe would lead to realisations for the benefit of creditors, please set it out in writing, attaching copies of all documentary evidence, and send it to the Liquidators. Please note that the Liquidators can only act on written information as telephone, or other, conversations will be regarded as hearsay by any court. Enquiries should be directed to Rachel Cooke. JESSICA KELLOW Liquidator Dated 1 July 2015

4 PINTSIK FOODS LIMITED (IN LIQUIDATION) Estimated Statement of Financial Position as at 29 June 2015 Book Estimated Notes value to realise $ $ Assets Fixed Assets Undisclosed 1 Estimated Funds Available Unknown (Subject to the costs of liquidation) Secured Creditors (to be confirmed) BOC Limited 0 2 Treasury Wine Estates (NZ) Limited 0 2 Technology Holdings Limited 0 2 Finance Now Limited 0 2 Hospitality Rentals Limited 0 2 Southern Hospitality Limited 0 2 George Weston Foods NZ Limited 0 2 Preferential Creditors (to be confirmed) Employees 9,100 Inland Revenue 76,244 Unsecured Creditors (to be confirmed) ANZ 20,000 Inland Revenue 4,249 Landlord 70,000 Personal loans 279,256 Trade Creditors 45,500 Estimated Shortfall (Subject to the costs of liquidation) (504,349) The information in this statement has been supplied by the company and the officers of the company. NO AUDIT HAS BEEN CONDUCTED Shephard Dunphy, its principals or staff accept no liability for the accuracy of the information. Notes 1. Estimated value undisclosed at this time as this may affect the sales process. 2. These creditors have claimed PMSI's in respect of assets. The Liquidators are yet to determine their securities. Any debts owing after the return of the assets would be classified as unsecured in the liquidation.

5 PINTSIK FOODS LIMITED (IN LIQUIDATION) Schedule of Creditors Name Address 1 Address 2 Address 3 2 Degrees creditsolutions@2degreesmobile.co.nz Absolute Security PO Box Lower Hutt Wellington ACC Debt Management Unit P O Box 3248 Wellington Ace Payroll PO Box Lower Hutt 5040 Advance Cleaning PO Box Penrose Auckland 1642 ALSCO PO Box 885 Palmerston North 4440 ANZ anzrecov@anz.com Arobake Limited 83 Aro Street Wellington Big Blue PO Box Wellington Mail Centre Wellington 5045 Bionic Coffee 5 Old Ferry Road Clive Napier 4102 BOC nzaccounts@boc.com Capital Produce Limited PO Box Johnsonville Wellington Contact help@contactenergy.co.nz CPC New Zealand PO Box Lower Hutt Eftpos Specialists Wellington Limited PO Box 481 Dunedin 9054 Finance Now Private Bag St Lukes Auckland 1346 Flexigroup PO Box Victoria St West Auckland 1142 George Weston Foods NZ Limited aklaccount.rec@gwf.com.au Genesis Energy Private Bag 3131 Waikato Mail Centre Hamilton 3240 Goldmark PO Box Kilbirnie Wellington Hardy Trade Supply Company Limited sales@hardytrade.co.nz Hospitality Rentals Limited sales@hardytrade.co.nz Inland Revenue Department P O Box Wellington Inland Revenue Department P O Box Wellington Kwikill Environmental kwikill@paradise.net.nz Mauri anz PO Box Otahuhu Auckland 1640 Mediterranean Warehouse 42 Constable Street Newtown Wellington Mesh Limited PO Box 6236 Wellington 6141 Monument Finance Limited Private Bag Palmerston North 4442 MYM Accounting Limited PO Box Wellington 6142 Now NZ PO Box Lower Hutt 5040 Orora Kiwi Packaging T/A Box NZ PO Box Manukau 2241 Prestige Print PO Box 9256 Marion Square Wellington Randwich Meat PO Box Lower Hutt 5040 Rentokill Initial Private Bag Onehunga Auckland Rhys Old Plumbing 79a Horoeka Street Stokes Valley Lower Hutt Southern Hospitality PO Box 425 Sunedin 9054 Spark insolvencies@spark.co.nz Speciality Foods 337 High Street Lower Hutt 5010

6 Name Address 1 Address 2 Address 3 Spencer Holmes PO Box 588 Wellington SUR Wines 34 Jackson Street Island Bay Wellington 6023 Technology Holdings PO Box 481 Dunedin 9054 Ted Mitchell 191 Buckley Road Southgate Wellington 6023 Tory Pastures Limited 2/88 Tory Street Te Aro Wellington Treasury Wine Estates PO Box 8264 Symonds Street Auckland 1150 Vodafone Fin.Recoveries@vodafone.com Warehouse Stationary PO Box 9429 Newmarket Auckland 1149 Weston Milling Toop Street Seaview, Lower Hutt Wellington 5045 Z Energy PO Box 2091 Wellington 6140 Employees Bernandita Gil Maria Jesus Silva Jason Rubi Micah Viray Daelee Harcastle Maria-Cristina Maglaque Ernest Joe Ortega Mark Ragasa Riza Ragasa Fae Ragasa Candy Marie Santiago Regina Thomson

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