Liquidator of UBNZ Assets, original Crafar vehicle, notes BMW secured as 'criminal proceeds'

Thu, 15 Mar 2018

By Jonathan Underhill March 15 (BusinessDesk) - UBNZ Assets Holdings, the dairy investment company set up for an unsuccessful attempt to acquire the Crafar farms in 2010, has a BMW vehicle that is still subject to a restraining order under the Criminal Proceeds (Recovery) Act, according to the liquidator's first report. UBNZ was put into liquidation by its owner, Cayman Islands-based Natural Dairy (NZ) Holdings, this month. The report from PwC's Marcus McMillan and John Fisk says Natural Dairy appointed liquidators "primarily to investiga...

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