SPQR shareholders pulled $1.4 million from the business, and the restaurant loaned $1.2 million to related companies

The book value of its inventory was concealed in its reports, and it is unknown how much money it would receive if it sold the inventory.

Liquidators estimate they will not recover any money from the $1.2 million loan made to related parties.

The report states that the related parties are companies that were struck off the company register more than 10 years ago. When asked about the identity of those companies, Lawrence did not comment.

Affiliates are companies that have common directors or owners.

It is also unclear how much of the $1.38 million in overdrafts on shareholders’ checking accounts, when shareholders have withdrawn more money than they have deposited, will be recovered.

The company registry shows the sole shareholder is CCR Trustee Limited, with SPQR restaurant owner Chris Rupe as a director of the company, holding 100 per cent of the shares.

this The Herald Rupe has been contacted for comment.

According to the liquidator’s report, the IRD had issued a statutory demand to SPQR for repayment of the taxes owed, but SPQR was unable to repay the debt or negotiate a repayment arrangement.

The company owed the ATO $1,484,423 in payroll tax and GST and $144,664 in wages and leave pay to staff.

Bank owes money

SPQR also owes ANZ Bank $211,054 and small business lender Prospa $52,950.

ANZ’s loan is secured by a first-tier general security agreement over fixed assets and trademarks, while Prospa’s loan is secured by those assets, meaning ANZ will be repaid first.

As the realizable value of fixed assets and trademarks may have an adverse impact on the selling price of the above assets, we reserve the right to estimate the realizable value of such fixed assets and trademarks.

Unsecured creditors are owed just over $616,000.

These include Auckland Council, ACC, Genesis Energy, Spark, Windcave and Asahi.

Creditors have until September 11 to file their claims.

Liquidators said they intended to sell SPQR’s assets, which included kitchen equipment and restaurant furniture, as well as a small amount of food and beverage stock.

After news of the liquidation broke last week, Lupe said in a statement that he was “very sorry for the current situation.”

“Thank you so much to the people of Auckland for your understanding. I know you, like me, have a deep affection for SPQR over the past 27 years. In the meantime, please patronize other local hospitality businesses and support the challenging but rewarding work they do.”