Creditors of Haven Homes have been given until 4pm on Friday this week to file evidence in relation to a winding up petition.

The winding up petition has been presented by Castletown builders merchants J. Qualtrough and Co, John Qualtrough and Ballasalla-based investment company Sherwood Ltd who claim they are owed more than £5m between them.

They argue that it would be ‘just and equitable’ for Haven Homes to be wound up, claiming it is unable to pay its debts as they fall due - an allegation denied by the homebuilder.

But at a court hearing last week it emerged that other claimants had come forward including Treasury, Manx Utilities and a number of suppliers.

Deemster Andrew Corlett has now made an order that the claimants, and any other creditors should they wish, should file and serve evidence in response to the defendant’s affidavit no later than 4pm on Friday (January 24).

The petition claim will be listed for the first available date after March 21 with two to three days allowed for the hearing.

At the heart of the dispute is The Meadows development in Castletown where work stopped last year and a number of homes remain unfinished, while building work has not even started on some plots.

Deemster Corlett told the directions hearing last week that the picture he was getting was of ‘many people’ apart from the petitioners owed a ‘substantial amount of money’. ‘It’s only a matter of time before the company goes under,’ he suggested.

Advocate for Haven Homes, Vicki Unsworth, disputed this and said her client would say the company was balance sheet solvent and was working through liquidity issues.

The court heard that judgment and execution had been awarded in favour of two creditors, for £27,492 and £29,000 respectively, and there was a debt of £163,957 owed to Treasury’s Customs and Excise Division.

Mrs Unsworth revealed that Haven Homes’ director Dave Lewis has had his personal properties arrested to secure a Treasury debt.

She said the debts - except the amount owing to Treasury - were either disputed or had been paid and the £27,492 debt owed to one supplier in relation to the court judgment had been paid that morning.

Advocate for Qualtroughs, Gillian Christian, told the court that estate agents Black Grace Cowley were owed £35,000 and there were a number of suppliers who had yet to make a claim.

She said Manx Utilities and the Income Tax Division both have claims but it was not yet known how much they are owed.

Referring to those who had put down a deposit for a home on The Meadows estate, she said: ‘There are other parties that have not formally registered their claims as they are frankly scared to lose their deposits.’

Also in court was a claimant who has a claim arising out of a Haven Homes development in Ramsey.

Mrs Christian accused Haven Homes of ‘cherry picking’ some creditors over others when there was an acceptance of liquidity issues.