The group of companies that make up the failed construction company Mainzeal could face up to $117.6 million in claims from unsecured creditors.
Three liquidators from accountancy firm BDO have released their first report to creditors and shareholders of the group, which was put into receivership last month.
The liquidators estimate that unsecured creditors - many of whom are tradesmen or sub-contractors - could file claims of up to $93.5 million.
They say that in total, the four companies making up the Mainzeal group could face claims of up to $117.6 million.
The amount to be claimed by secured creditors is not yet known, and the liquidators say they have concerns about the accuracy of the company records. The details of the companies' balances warrant further investigation.
The statement of affairs excludes warranties, legal claims, performance bonds, and other contingencies.
Scaffolding company Camelspace says it is owed about $300,000 mostly for contracting work at the Hobsonville Gardens in Auckland, and commercial director Phil McConchie doubts his firm will be paid.
"I've heard there wasn't much money being found in the companies and there was a lot of money owed to secured creditors let alone unsecured creditors. It wasn't even looking like the secured creditors were going to get all the money they were owed ... so that would leave nothing for unsecured creditors like us."
