STA Travel had $30,000 in the bank

Tue, 06 Oct 2020

The liquidators of STA Travel say a lack of money held by the failed travel agent means they may need to seek liquidation funding.Deloitte’s Colin Owens and David Webb said in their first liquidator’s report the company was estimated to have assets of $34,000, with $30,000 in bank funding. Trade and other receivables were yet to be confirmed, but the pair estimate a shortfall to creditors of $11.5 million. Preferential creditors are owed $439,000. Unsecured creditors are owed about $11.1 million.The liquidators said they want t...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Technology Review

No Wi-fi dead zones, but a big upfront price tag: Eero Pro 7

This three-device system offers fast and reliable connectivity based on Wi-Fi 7.

Peter Griffin 5:00am

Technology

Financial apps for kids are changing allowances

Most of these apps feature a payment option related to chores.

The Washington Post 5:00am

Financial apps for kids are changing allowances

CEO Index Free Startup Finalist

Cow collars can be big business. Just ask Craig Piggott

"In the early days, I lost count of the number of times I fell flat on my face."

Gill South 5:00am

Cow collars can be big business. Just ask Craig Piggott

Sponsored

Cybersecurity skills gap leaving Kiwi businesses at risk - report

A cybersecurity skills shortage is creating additional cyber risks, according to a new global report.

Fortinet

Sponsored

Spark’s partner strategy sets the bar for innovation

Spark

More Retail

Retail

Want an easier way to travel with a suit?

Known as ‘convertibles,’ they combine a garment bag with a duffel to carry a suit.

The Washington Post 5:00am

Retail

NZ’s second giant Costco Wholesale to be built at Drury

New Zealand’s second giant Costco Wholesale shop will be built in South Auckland’s Drury, it has been confirmed.Kiwi Property chief executive Clive Mackenzie and Costco country manager Chris Tingman made a joint statement about a conditional land deal.“Kiwi Property has reached a...

Staff reporters 12 Nov 2025