Meatco had planned note issue to raise $2.5M; liquidator left with 1.3 tons of frozen halal meat

Fri, 06 Apr 2018

By Jonathan Underhill April 6 (BusinessDesk) - Meatco, a New Zealand processor and exporter of halal sheep meat put into liquidation last month, had planned to raise capital through a convertible note issue to build a processing plant in Shannon in the lower North Island, the first of many, a strategy that was touted to boost earnings by 50 percent. Instead, the three-year-old business was put into liquidation by a disgruntled creditor, Beirut-based Widriss Holding, a diversified food and commodity trader, "following a non-supply or refun...

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