The remaining assets of former dairy co-operative, Murray Goulburn, have been placed into voluntary liquidation.
Most of the assets of the once dominating dairy processor were sold to Saputo in 2018, but a shell company remained to finance litigation and pay for the costs of winding up the company.
The company had its roots in northern Victoria in 1950. Before it was sold it had assets of more than $1billion and annual revenues of more than $2billion. At its height it was the largest buyer of raw milk and employed several thousand people.
A report to the special meeting on June 26 put the total assets of the remaining company at $264million, with $259million of that in cash.
Shareholders will stand to benefit from a distribution within …
Read the full article at: https://www.dairynewsaustralia.com.au/2020/07/03/1408194/murray-goulburn-shell-company-goes-into-liquidation
