Former MP Marama Fox owes over $150k after affordable housing business failed

Former MP Marama Fox owes a group of companies at least $160,000 after her business failed to get off the ground, Laura Walters reports.

The former Māori party co-leader set up her business after her party was ousted from Parliament in last year’s election.

She was travelling the country in an effort to get investors for a proposed venture to build environmentally friendly, affordable homes.

However, she failed to secure finance for potential investors and was unable to pay her bills.

Marama Fox Consultancy Group Tapui was placed into liquidation on August 28, following proceedings at the High Court in Wellington brought by Masterton IT company Ohnyx IT Solutions.

The first liquidator’s report, which was delivered last month, showed she ran up costs of $160,000.

Of this $156,000 was owed to unsecured creditors and included fees for IT, travel costs, interior design, logo design, whiteware, and debt collection, among others. The report listed 14 creditors.

Liquidator Grant Reynolds said the company was under-capitalised from the outset.

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Source: Stuff