Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Receivers appointed to Pike River Coal Limited

Monday 13 December 2010


Receivers appointed to Pike River Coal Limited

John Fisk, David Bridgman and Malcolm Hollis, partners from PricewaterhouseCoopers, have today been appointed receivers of Pike River Coal Limited. This appointment follows discussions by Pike River Coal Limited with New Zealand Oil and Gas. After an extensive review of the options available to them, a formal request from the Board of Pike River Coal Limited was made to appoint receivers.

John Fisk said “we acknowledge this will be disappointing for the Greymouth community which is already suffering from the recent tragic events. Yet, the receivership will enable a full consideration of the options available to the company in regards to the recovery effort and to preserve the value of the assets.”

Mr Fisk further noted the receivers will be co-operating with the various inquiries being conducted.

The receivers will be meeting with employees from Pike River Coal Limited on Tuesday this week to brief them on their position and will be focused on making a payment to employees prior to Christmas.


ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Climate Summary: NZ’s Equal-2nd Warmest Year On Record

Annual temperatures were above average (+0.51°C to +1.20°C above the annual average) across the majority of New Zealand... 2018 was the equal 2nd-warmest year on record for New Zealand, based on NIWA’s seven-station series which began in 1909. More>>

ALSO:

GDP: Economic Growth Dampens In The September Quarter

Gross domestic product (GDP) rose 0.3 percent in the September 2018 quarter, down from 1.0 percent in the previous quarter, Stats NZ said today... GDP per capita was flat in the September 2018 quarter, following an increase of 0.5 percent in the June 2018 quarter. More>>

ALSO:

Up $1.20: $17.70 Minimum Wage For 2019

Coalition Government signals how it will move toward its goal of a $20 p/h minimum wage by 2021... “Today we are announcing that the minimum wage will increase to $17.70 an hour on 1 April 2019." More>>

ALSO:

Retail: IKEA To Open In New Zealand

Inter IKEA Systems B.V. is today announcing its intentions to grant the Ingka Group exclusive rights to explore expansion opportunities in New Zealand. More>>