HOTEL ASHBURTON (2016) LIMITED

By on January 19, 2018

HOTEL ASHBURTON (2016) LIMITED status has changed from Registered to In Receivership on the 18 January 2018.

Previous Status
Registered From: 12 Oct 2016 To: 18 Jan 2018

*Director/s:
Peter Lewis WHITTAKER
27 Buckingham Street Arrowtown Arrowtown 9302 NZ

Georgina Bridie WHITTAKER
27 Buckingham Street Arrowtown Arrowtown 9302 NZ

Administrator Appointed 18 Jan 2018
Malcolm Grant HOLLIS and JOHN HOWARD ROSS FISK from PRICEWATERHOUSECOOPERS AUCKLAND
Phone: +64 3 374 3031 or 4 462 7000
188 Quay Street Auckland Central Auckland 1010 NZ
Email: restructuring@nz.pwc.com

View Documents: Documents

What is Receivership?

Receivership is where a Receiver is appointed by the Court or under a Deed or Agreement to realise the assets or manage the business of a company for the benefit of the secured creditors.
Sometimes secured assets are critical to the operation of the company and trading cannot continue without them. In these situations, liquidation can soon follow.

The Receiverships Act 1993 defines the qualifications of a Receiver who has specific powers which include the right to:

  • Inspect any books or documents relating to the company / property
  • Demand, recover and issue receipts for income of the company / property in receivership
  • Manage, insure, repair and maintain the company / property in receivership

 

What is the difference between receivership and liquidation?

In a Receivership, the assets are realised for the benefit of the one secured creditor who made the appointment of a Receiver whereas in a Liquidation the assets are realised primarily for the benefit of all creditors in order of priority (secured creditors, employees and IRD get their money before others).

Receivership is governed by the Receiverships Act 1993.

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