Finance

Kurow-Duntroon Irrigation Company saved from liquidation

Riley Kennedy
Fri, 05 Aug 2022

Kurow-Duntroon Irrigation Company saved from liquidation
The priority to keeping irrigation water flowing stopped creditors closing down an indebted project. (Image: Deposit Photos)
Riley Kennedy
Fri, 05 Aug 2022
Creditors of a North Otago irrigation scheme owed more than $50 million have approved a deed which staves off liquidation.In May, the Kurow-Duntroon Irrigation Company (KDIC) was put into receivership and voluntary administration by government entity Crown Irrigation Investment Ltd (CIIL).This followed an adjudication process which found KDIC was liable to pay Monadelphous (MENZ) about $12.8m following a dispute over a $45m project the Australian engineering group was undertaking for the company.The community-owned irrigation company had been m...

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