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...

More Finance

FNZ employee shareholders told success more likely
Finance

FNZ employee shareholders told success more likely

Account show loss at global fintech widens. 

Victoria Young 05 Jun 2025
NZ Super ahead of the curve on US equities
Finance

NZ Super ahead of the curve on US equities

New Zealand’s sovereign wealth fund has been overweight in European equities.

Gregor Thompson 03 Jun 2025
Former Telecom chair Wayne Boyd honoured
Finance

Former Telecom chair Wayne Boyd honoured

Honours recognition for a lifetime of low-key, high-quality leadership.

Pattrick Smellie 02 Jun 2025
Andrew Barclay to leave Goldman Sachs NZ
Finance

Andrew Barclay to leave Goldman Sachs NZ

Andrew Barclay has been one of NZ’s most respected deal-makers.

Pattrick Smellie 20 May 2025