Even after the Crafar farm deal fronter May Wang has already paid a huge amount matching to the tune of $62,000 in GST owed on the $500,000 advanced by UBNZ, the Inland Revenue has continued to fight over the bankrupt May Wang for the $1.3 million debt. It is to be mentioned here that Wang owes her creditors millions of dollars owing to the fall of her property group, the Dystany group.
The IRD lawyer has recently said that Wang has still not disclosed all her assets to the creditors which includes four companies in the British Virgin Islands, offshore trusts and offshore bank accounts.
However, Wang has told the court last week that five friends had loaned her close to $850,000 last week whose names have not been disclosed privately but were told to the court privately. She is also listed as a director of Super Worth.
It may be noted here that if the high court judge Hannah Sargisson accepts Wang's proposal, Wang will not be bankrupt and will easily be able to continue working on her usual business activities.
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