Mount Maunganui Restaurant Company Owes $650k to IRD

Osteria Mt Maunganui Limited, the company operating a well-known Italian restaurant in Mount Maunganui, has entered voluntary liquidation while owing more than $650,000 in tax debt to Inland Revenue (IRD).

The company entered the liquidation process on March 12, 2026. According to the first liquidator’s report published on March 24, 2026, the company was unable to meet its historic debt obligations due to poor trading conditions.

Liquidation and Debt Structure

The liquidation process is being managed by Adam Botterill and Damien Grant of Waterstone Insolvency, based in Auckland.

Jeanette McIntosh, the sole director of the company, stated that the business’s only debt was to the IRD. She asserted that all other suppliers had been paid in full.

McIntosh attributed the financial situation to poorly managed and inherited debts. She claimed that attempts to resolve the matter through negotiations with the IRD failed because the department would not accept the proposed refinancing and payment plan.

The IRD has declined to comment on the specific affairs of the taxpayer.

Corporate Ownership and Asset Sale

Osteria Mt Maunganui Limited was incorporated in 2015. The Companies Register identifies Jeanette McIntosh as the sole director, with shareholders consisting of McIntosh and her trust, Toshi Trustees Limited.

Prior to the formal liquidation, the business and its assets were sold. McIntosh stated that this sale was conducted based on legal advice.

Operational Status

Despite the liquidation of the corporate entity, the Italian eatery remains a fixture on Maunganui Rd. McIntosh confirmed that the restaurant would stay open and that all staff members remained employed.