Precision Foundry receivers say no money for unsecured creditors

Precision Foundry receivers say no money for unsecured creditors
Victoria Young
By Victoria Young July 23 (BusinessDesk) - The receivers of former Masport firm Precision Foundry say unsecured trade creditors and unsecured employees - who have claims of about $4.07 million - are unlikely to get anything.  The Auckland-based cast iron exporter that previously employed 80 staff was placed in receivership before Christmas last year. The company, directed by Paul Ayers and Myles Cooper, turned over about $15-18 million.  In a report dated July 22, KordaMentha receivers Grant Graham and Neale Jackson said it is now unli...

More Finance

‘Teflon Man’ Neil Quigley’s next big job
Finance Analysis

Pattrick Smellie: ‘Teflon Man’ Neil Quigley’s next big job

Is the RBNZ lining up a Canadian replacement for Adrian Orr?

Pattrick Smellie 23 Jul 2025
Time ripe to stop forex fees confusion
Finance

Time ripe to stop forex fees confusion

Misleading 'fees free' foreign exchange deals are costing Kiwis.

Pattrick Smellie 22 Jul 2025
BNZ whistleblower wins $500k, fights on
Finance

BNZ whistleblower wins $500k, fights on

 Melissa Bowen had sought more than $3 million after she lost her job at the bank.

Victoria Young 18 Jul 2025
UPDATED: ASB, ANZ offered settlement in class action stoush
Finance

UPDATED: ASB, ANZ offered settlement in class action stoush

ANZ immediately rejected the offer as a "stunt".

Pattrick Smellie 16 Jul 2025