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Receivers appointed over Queenstown development
PRESS STATEMENT 26 May 2009
Brendon Gibson and Grant Graham of KordaMentha were appointed Receivers over Melview (Kawarau Falls Station) Investments Limited and Melview (Kawarau Falls Station) Development Limited, entities associated with Stage 1 of the development known as Kawarau Falls Station in Queenstown.
Mr Gibson said: “This is a complex development being built in multiple stages. Our immediate task will be to understand the construction costs and associated revenue streams for the project.
The current intention is that construction work will continue to be funded in the interim while all the options are assessed.
We envisage that this assessment will most likely take a couple of weeks.”
ENDS
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