Creditors to vote on Vac Group NZ’s future

Creditors to vote on Vac Group NZ’s future
A Vac-U-Digga NZ truck. (Image: Vac-U-Digga)
Riley Kennedy
The administrators of the New Zealand arm of an Australian civil contractor are giving creditors the chance to vote on its future early in the new year.However, its future may already be certain with the receivers selling its assets just before Christmas.On Dec 4, the board of Vac-U-Digga NZ and Beacos NZ, which are both owned by Australian-based Vac Group Holdings, placed the companies into voluntary administration. Cor Cordis’ Michael Billingsley and Neil Cussen were appointed administrators.A day later, the group’s major creditor...

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