business | Large-scale dairy business in receivership

Taupō and North Otago-based business reportedly owes its bank $36.5 million.

A large-scale dairy business that operates three farms in Taupō and North Otago has been placed into receivership.

The business, the Waitonui Group, was placed into receivership on April 15 with Andrew Grenfell and Kare Johnstone of McGrathNicol appointed by Bank of New Zealand as receivers.

The company names of the group are Waitonui Milltrust Agricultural Holdings Limited Partnership, Waitonui Milltrust Agricultural Holdings Farm Management Limited Partnership, Waitonui Milltrust Agricultural Holdings General Partner Limited and Farm Management General Partner Limited.

NZME reported that the business owed its bank $36.5 million.

The group formerly had United Kingdom asset manager Milltrust International as a major stakeholder.

In a statement, Milltrust International said it had exited from Waitonui Milltrust Agricultural Holdings in November 2021 through the sale of its subsidiary, Milltrust Agricultural Investments (MAI), to Future Planet Capital.

“It is important to note that while Waitonui Milltrust Agricultural Holdings includes and retains the Milltrust name, Milltrust International Group no longer holds any shareholding or management role in Waitonui Milltrust Agricultural Holdings,” it said.

“The management and control of these entities were entirely transferred to new ownership post the 2021 transaction.”

You can now read the most important #news on #eDairyNews #Whatsapp channels!!!

🇺🇸 eDairy News INGLÊS: https://whatsapp.com/channel/0029VaKsjzGDTkJyIN6hcP1K

Look also

Why Wisconsin’s court order against a CAFO farm was so unusual

When agricultural specialists from the state Department of Natural Resources inspect a CAFO — a concentrated animal feeding operation — they would prefer cloudy skies with pouring rain.

You may be interested in

June Cheese Stocks Come in Below Expectations

Why Wisconsin’s court order against a CAFO farm was so unusual

Who are the Winners and Losers in the Latest USDA Milk Production Report?

Topics |
business, Dairy

Legal notice about Intellectual Property in digital contents. All information contained in these pages that is NOT owned by eDairy News and is NOT considered “public domain” by legal regulations, are registered trademarks of their respective owners and recognized by our company as such. The publication on the eDairy News website is made for the purpose of gathering information, respecting the rules contained in the Berne Convention for the Protection of Literary and Artistic Works; in Law 11.723 and other applicable rules. Any claim arising from the information contained in the eDairy News website shall be subject to the jurisdiction of the Ordinary Courts of the First Judicial District of the Province of Córdoba, Argentina, with seat in the City of Córdoba, excluding any other jurisdiction, including the Federal.