Auckland Animation Studio Anim Studio Liquidated with $1.7m Tax Debt
Auckland-based animation company Anim Studio Ltd has been placed into liquidation owing creditors over $2 million, including a $1.7 million debt to Inland Revenue. Liquidators steven Khov and kieran Jones of Khov Jones Ltd were appointed on October 6, following proceedings commenced by the tax department.
The liquidation highlights the ongoing fallout from the Small Business Cashflow Scheme (SBC) introduced during the Covid-19 pandemic, with Anim Studio owing a further $104,932 under the scheme. The companyS financial woes also include $241,000 in related party loans to Mukpuddy Ltd, and a significant disparity between debts and assets - with estimated assets of just $104,792 against total liabilities exceeding $2 million.
Anim Studio, formerly known as Mukpuddy Animation Ltd, changed its name on July 14. On August 20, Cooper was removed as a director of Mukpuddy Ltd. Inland Revenue is pursuing the debt for unpaid GST and employment taxes.
The SBC scheme, which provided loans to businesses during the pandemic, is now facing increased scrutiny as repayments fall due. Over 129,000 businesses received loans totaling $2.4 billion, with an average loan amount of $17,000. Businesses were granted five years to repay, with default interest of 10.88% plus a 3% standard interest rate applying from June 2025. In May, Inland Revenue reported it was still seeking over $161 million in unpaid SBC loans.
