Law & Regulation

Wine magnate in court over receivership

Oliver Lewis
Tue, 07 Jun 2022

Wine magnate in court over receivership
Villa Maria founder George Fistonich is in court fighting the company's receivers. (Image: NZME)
Oliver Lewis
Tue, 07 Jun 2022
The cost of defending claims by Villa Maria wine magnate George Fistonich against receivers appointed to his company could be as much as $5 million, a court has heard.Fistonich was in the high court at Auckland on Tuesday arguing against the receivers appointed to Villa Maria's holding company FFWL in May 2021 retaining funds from the receivership to defend against his claims.According to their most recent report, the receivers said the sale value of the business, land and assets was about $265m, leaving money to Fistonich after paying back...

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