8 Apr 2005

Talks continue in Niue in company row

1:12 pm on 8 April 2005

A creditor for ailing Niue Investment Limited says he is in talks with Niue police about whether they should follow a High Court order and seize money owing to him from a Niue bank account.

Allan Culling of Culling's Food Products is owed just over 18,000 New Zealand dollars by Niue Investment Limited which is in difficulty and may opt to go into liquidation.

Mr Culling says he's received court authority to seize the funds from the firm's bank account.

He visited police yesterday but says they're unsure what they can do legally. He's going back, with his local representative, today.

Mr Culling and his wife, who are New Zealanders, have sold their firm and plan to leave Niue, where they have lived for 19 years. They say stress is part of their decision to leave.

Niue Investment Limited says it owes a total of 103,000 dollars to creditors and has not yet decided whether to try and trade its way out of difficulty or go into liquidation.