'Hopelessly insolvent' Ruapehu Alpine Lifts officially put into liquidation

The court was told RAL was “hopelessly insolvent” and didn't have money to pay its debts. (Image: RAL)

Wed, 21 Jun 2023

Ruapehu Alpine Lifts, the operator of the Tūroa and Whakapapa ski fields, has officially been put into liquidation.The order was made in the high court at Auckland before Justice Christine Grice.Wednesday’s hearing comes after a watershed meeting on Tuesday where major creditors, including the government, ski pass owners and ANZ Bank, voted on one of three options presented to salvage the commercial operations of the fields. VotingFor an option to go through, 50% of creditors needed to vote in agreement by number, but 75% by the valu...

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