Vac Group's NZ companies owed more than $33m to creditors, liquidators say

One of Vac-U-Digga NZ's trucks. (Image: Supplied)

Fri, 13 Jan 2023

Vac Group New Zealand, a collapsed Australian-owned NZ civil contractor, owes more than $33 million to creditors, its liquidators' first report says.Last week, creditors at a watershed meeting in Auckland tipped Vac Group’s NZ companies into liquidation and appointed Cor Cordis’ Michael Billingsley and Neil Cussen as liquidators.The pair, who are dealing with the Australian parent's collapse as well, were the companies’ administrators after being appointed by Vac Group’s board late last year.Following their appoi...

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