Bean counters are finally closing the book on Ruapehu Alpine Lifts, with the historic tourism outfit to be removed from the Companies Register, but the years-long debacle is far from over.
The insolvency of Ruapehu Alpine Lifts will end with the Government having been repaid just $701,000 of the many tens of millions of dollars it has sunk into supporting Tūroa and Whakapapa since 2018.
This repayment was eclipsed by payments to the Crown-appointed receivers, who were remunerated a total of $1.3 million for their work. Liquidators billed $471,000 for their work, on top of the $515,296 charged during their capacity as voluntary administrators.
The insolvency is over, but there’s more to come yet, with twin court cases…