Liquidators unsuccessful in taking claim against livestock shipping company

Liquidators unsuccessful in taking claim against livestock shipping company
The vessel Al Kuwait is at the centre of the liquidation. (Image: Marine Traffic)
Riley Kennedy
Liquidators of a collapsed live export partnership have failed to take a claim against a shipping company that didn’t turn up for its voyage.PwC’s Malcolm Hollis and Wendy Somerville had managed to secure litigation funding, but they ran out of time.The non-completion of the voyage by MV Al Kuwait three years ago ultimately led to Genetic Development (NZ) Exports Limited Partnership’s insolvency. It was put into liquidation by the high court at Hamilton in October 2022 on the application of former Fonterra direc...

More Primary Sector

Plan to save ‘cash-strapped’ Cannasouth put forward
Primary Sector

Plan to save ‘cash-strapped’ Cannasouth put forward

The NZX-listed group went into voluntary administration in March.

Fonterra wasn’t expecting ‘strong’ consumer margins to hold up
Primary Sector

Fonterra wasn’t expecting ‘strong’ consumer margins to hold up

The consumer channel’s gross margin for the quarter was 26.5%.