Nido builder liquidators ousted, creditors vote in replacement
17 Dec, 2020 09:52 PM
2 minutes to read
Magsons, trading under the Nido brand, collapsed into receivership on Friday. Video / Will Trafford
Creditors owed money for working on New Zealand's largest homeware retail outlet have ousted the liquidators of the business and had a new liquidator appointed.
Greg Sherriff of Waterstone Insolvency is now the liquidator of Vijay Holdings which built the 2.7ha Nido store in Henderson and was finishing a 650-space carpark.
Sherriff said this morning: "The pressure is now on to repay the faith that creditors have expressed in me."
On November 6, Daran Nair and Heiko Draht of Greenlane Chartered Accountants were appointed Vijay liquidators at the request of shareholders.