A family-owned boat business placed in receivership owes $16.58 million to creditors, including two major banks and numerous marine equipment suppliers..
A family-owned boat business placed in receivership owes $16.58 million to creditors, including two major banks and numerous marine equipment suppliers..
Receivers seek to enforce guarantees secured by mortgages.
Companies associated with
NBR Rich Lister George Kerr have filed legal action against BNZ as the bank seeks to recover a $36 million debt in default.
BNZ appointed Neale Jackson and Natalie Burrett of Calibre Partners as receivers of income to Kerr’s companies Galt Nominees and Glencoe Land (Joint Venture) on December 14.
In their first report filed to the Companies Office, the receivers said Galt and Glencoe Land had guaranteed debts owed by a third Kerr company, Lothian Partners Capital.
The guarantees were secured over mortgages on property at New Chums Beach in the Coromandel and Crown Terrace, Queenstown.