Dairy group in receivership owes BNZ $36.5m

Dairy group in receivership owes BNZ $36.5m
The group grazed 5,000 dairy cows. (Image: Unsplash)
John Anthony
A recent high court judgment says a large dairying group that went into receivership last month owes about $36.5 million to the Bank of New Zealand.On April 15, Andrew Grenfell and Kare Johnstone were appointed receivers and managers of the dairying group that spans three dairy farms – one in Taupō and two in North Otago.The companies in receivership are Waitonui Milltrust Agricultural Holdings General Partner, Waitonui Milltrust Agricultural Holdings Partnership, WMAH Farm Management General Partner and Waitonui Milltrust Agricultur...

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