Westpac faces $13m shortfall on Sacred Hill sale

Thu, 20 Jan 2022

Westpac stands to be $13 million out of pocket after it called in receivers to try to claw back $52.4m it was owed by failed vintner Sacred Hill Vineyards.Receivers Rees Logan and Andrew McKay of BDO extracted $49.8m from the sale of Sacred Hill’s assets, which saw them split the business and seek separate buyers for the Hawke’s Bay operations and Marlborough vineyards.The sale of the Marlborough vineyards to contract winemaker VinLink Marlborough netted the receivers the biggest payday of almost $43m. The sale price for the Hawke&r...

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