IRD owed $7 mln by Graeme Hart's UCI Holdings, judgment shows

Thu, 09 Jun 2016

By Paul McBeth June 9 (BusinessDesk) - The Inland Revenue Department is among creditors owed money by Graeme Hart's UCI Holdings, the autoparts business that filed for bankruptcy in the US to restructure what became an unmanageable debt. In the High Court in Auckland, Justice Matthew Palmer today granted an application which would empower the Chapter 11 filing UCI made under the US Bankruptcy Code, which effectively lets the company reorganise its business while retaining control of the assets to prevent creditors from mounting legal act...

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