Future of Ruapehu Alpine Lifts set to head back to Court
The troubled Ruapehu Alpine Lifts on New Zealand’s North Island will be the subject of further upcoming Court action after new claims were lodged over Christmas.
The operator of Turoa and Whakapapa ski fields went into liquidation in June after being in voluntary administration for nine months.
Since then the New Zealand Government has kept it going to find a new owner.
Published before Christmas on the Companies Office website, the receivers report shows that while the company had total assets of around $56 million its value would be considerably lower given the location on Mt Ruapehu.
The report also showed creditors were owed just under $70 million when it was placed into receivership.
The report also revealed that several groups lodged court proceedings just before Christmas over who has priority over any payouts.
Click here to access details of the administrators report on the Companies Office website.
Image: Ski lift base at Mt Ruapehu. Credit: Supplied/Ruapehu Alpine Lifts.
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