Now six months into the liquidation, Sprosen and White have confirmed that the companies owe a combined $42.92m. However, $41.27m of that figure is owed to related-party creditors, including amounts owed between the companies.
Cherri Holdings owes a total of $24.92m to creditors, split between $10.89m to external creditors and $24.9m to related-party creditors.
Cherri Global owes the next largest amount, with $11.27m owed to related-party creditors. The remaining $1.62m is owed to external creditors, including the Ministry of Business, Innovation and Employment (MBIE).
Cherri Machinery, meanwhile, owes $5.1m to related-party creditors, with $8464 owed to external creditors.
Assets sold
Since their initial report, Sprosen and White have…