Waterstone Insolvency’s attempt to overthrow Dick Smith administrators fails – Stuff.co.nz

ROBERT KITCHIN/FAIRFAX NZ

Dick Smith stores have remained open while receivers and administrators try to get the business sorted for sale.

Almost 200 Dick Smith New Zealand employees are owed $353,000 by the company and it is uncertain whether they will get their money.

Dick Smith’s administrators McGrathNicol held the first New Zealand creditors meeting in Auckland on Friday, where they revealed the amount owed by Dick Smith NZ to staff.

They also revealed two secured creditors were owed an estimated $135 million, and a further 49 trade creditors over $…

Read the full article at: http://www.stuff.co.nz/business/industries/75896418/waterstone-insolvencys-attempt-to-overthrow-dick-smith-administrators-fails

Category: BankruptcyBy Insolvency Guardian January 15, 2016

Waterstone Insolvency’s attempt to overthrow Dick Smith administrators fails – Stuff.co.nz

ROBERT KITCHIN/FAIRFAX NZ

Dick Smith stores have remained open while receivers and administrators try to get the business sorted for sale.

Dick Smith’s administrators have successfully defended an attempt to replace them, after lifting the lid on the debts of the retailer’s New Zealand business.

At a meeting in Auckland on Friday, creditors voted on a motion to replace McGrathNicol with Waterstone Insolvency’s Damien Grant and Steven Khov.

Grant said there was a possibility banks had alerted the Dick Smith board before they pulled their support from th…

Read the full article at: http://www.stuff.co.nz/business/industries/75896418/Waterstone-Insolvencys-attempt-to-overthrow-Dick-Smith-administrators-fails

Category: BankruptcyBy Insolvency Guardian January 14, 2016

Waterstone Insolvency’s attempt to overthrow Dick Smith administrators fails – Stuff.co.nz

ROBERT KITCHIN/FAIRFAX NZ

Dick Smith stores have remained open while receivers and administrators try to get the business sorted for sale.

Dick Smith’s administrators have successfully defended an attempt to replace them, after lifting the lid on the debts of the retailer’s New Zealand business.

At a meeting in Auckland on Friday, creditors voted on a motion to replace McGrathNicol with Waterstone Insolvency’s Damien Grant and Steven Khov.

Grant said there was a possibility banks had alerted the Dick Smith board before they pulled their support from th…

Read the full article at: http://www.stuff.co.nz/business/industries/75896418/attempt-to-overthrow-dick-smith-administrators-with-local-insolvency-firm-fails

Category: BankruptcyBy Insolvency Guardian January 14, 2016

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Waterstone Insolvency’s attempt to overthrow Dick Smith administrators fails – Stuff.co.nz

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