Postie Plus liquidator cuts $550k deal with former logistics supplier

Wed, 06 Jul 2016

By Paul McBeth July 6 (BusinessDesk) - The liquidator of Postie Plus' former owner reached a $550,000 settlement with the failed retailer's former logistics supplier, leaving creditor Bank of New Zealand facing a shortfall of more than $5 million. In the final liquidators' report for Retva Ltd, the remaining shell of Postie Plus Group, PwC's David Bridgman said a "full and final" settlement was concluded in April 2016, ending proceedings brought by the retailer's secured creditor. BNZ had funded the initial legal proceedings against the...

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