Ruapehu Alpine Lifts has officially been placed into liquidation at the High Court in Auckland today.
Yesterday afternoon creditors gathered for the watershed meeting in Auckland, Ohakune and Wellington to vote on the ski field’s future.
Three options were presented to creditors, including options to buy Turoa and Whakapapa ski fields for $1, but the “worst case scenario” landed the business in court this morning seeking liquidation.
RAL’s lawyer David Friar told the court the company filed an urgent application for liquidation following yesterday’s meeting.
He said the company has no other option but to do so. He said the company was “hopelessly insolvent and unable to pay its debts”.
Justice Christine Grice placed the company into liquidation just after 10am.
The administrators will also stay on as liquidators of RAL.
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