Failed rocket company owes more than $2m

Argo Navis Aerospace is 75% owned by chief executive and director Malcolm Snowdon. (Image: Supplied)

Mon, 18 Dec 2023

Unsecured creditors of an Auckland-based space rocket startup are owed more than $2 million after the company failed to secure funding, a first liquidator’s report says.Argo Navis was incorporated in September 2019 by former Rocket Lab workers Malcolm Snowdon and Avinash Rao to develop commercial upper-stage rocket engines.The company raised more than $2m, including a $1.07m capital raise in March, but ceased trading on Dec 5 after a shareholders’ special resolution.Who's owed whatIn his first report, liquidator Digby Noyce...

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