* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, May 9, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Fall 2025 TV Schedule: Your Guide to the Complete Lineup – Wyoming News Now

    Get Ready for Fall 2025: Your Ultimate Guide to the Exciting TV Lineup!

    Blackstone River Theatre presents music from Scotland with Cantrip – The Valley Breeze

    Experience the Enchanting Sounds of Scotland: Cantrip Takes the Stage at Blackstone River Theatre!

    The viral wireless audio dongle for in-flight entertainment just got a big upgrade – and I love it – ZDNET

    Game-Changer for In-Flight Entertainment: The Upgraded Wireless Audio Dongle You’ll Love!

    Tahoe City Downtown Association opens 4th of July Entertainment Grant Program – Sierra Sun

    Celebrate Independence Day: Tahoe City Launches Exciting 4th of July Entertainment Grant Program!

    WEBTOON Entertainment Revolutionizes Webcomic Discovery with Innovative New Personalization Features and Product Updates – Business Wire

    Unlocking a New Era of Webcomic Discovery: WEBTOON’s Exciting Personalization Features and Updates!

    What does Gen Z consider entertainment? – The Drum

    Unlocking Gen Z’s Entertainment Preferences: What Captivates the Next Generation

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Air Force Invests in Whisper’s Ultraquiet Propulsion Technology – FLYING Magazine

    Air Force Invests in Whisper’s Ultraquiet Propulsion Technology – FLYING Magazine

    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Technology is the key to empathy in insurance – InsuranceNewsNet

    Unlocking Empathy: How Technology is Transforming the Insurance Experience

    Technology – Inflexion

    Revolutionizing the Future: The Impact of Cutting-Edge Technology

    Outdated technology and stress-related absences contribute to Newark Airport chaos – Travel Weekly

    How Outdated Technology and Stress Are Fueling Chaos at Newark Airport

    Tech & AI LIVE London: Q&A with IBM’s Nabeel Nawaz – Technology Magazine

    Tech & AI LIVE London: Q&A with IBM’s Nabeel Nawaz – Technology Magazine

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Fall 2025 TV Schedule: Your Guide to the Complete Lineup – Wyoming News Now

    Get Ready for Fall 2025: Your Ultimate Guide to the Exciting TV Lineup!

    Blackstone River Theatre presents music from Scotland with Cantrip – The Valley Breeze

    Experience the Enchanting Sounds of Scotland: Cantrip Takes the Stage at Blackstone River Theatre!

    The viral wireless audio dongle for in-flight entertainment just got a big upgrade – and I love it – ZDNET

    Game-Changer for In-Flight Entertainment: The Upgraded Wireless Audio Dongle You’ll Love!

    Tahoe City Downtown Association opens 4th of July Entertainment Grant Program – Sierra Sun

    Celebrate Independence Day: Tahoe City Launches Exciting 4th of July Entertainment Grant Program!

    WEBTOON Entertainment Revolutionizes Webcomic Discovery with Innovative New Personalization Features and Product Updates – Business Wire

    Unlocking a New Era of Webcomic Discovery: WEBTOON’s Exciting Personalization Features and Updates!

    What does Gen Z consider entertainment? – The Drum

    Unlocking Gen Z’s Entertainment Preferences: What Captivates the Next Generation

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Air Force Invests in Whisper’s Ultraquiet Propulsion Technology – FLYING Magazine

    Air Force Invests in Whisper’s Ultraquiet Propulsion Technology – FLYING Magazine

    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Technology is the key to empathy in insurance – InsuranceNewsNet

    Unlocking Empathy: How Technology is Transforming the Insurance Experience

    Technology – Inflexion

    Revolutionizing the Future: The Impact of Cutting-Edge Technology

    Outdated technology and stress-related absences contribute to Newark Airport chaos – Travel Weekly

    How Outdated Technology and Stress Are Fueling Chaos at Newark Airport

    Tech & AI LIVE London: Q&A with IBM’s Nabeel Nawaz – Technology Magazine

    Tech & AI LIVE London: Q&A with IBM’s Nabeel Nawaz – Technology Magazine

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Ruapehu Alpine Lifts goes into liquidation

June 21, 2023
in Business
Ruapehu Alpine Lifts goes into liquidation
Share on FacebookShare on Twitter

Skiers on Mt Ruapehu.

Skiers on Mt Ruapehu.
Photo: Sarah Evans / Unsplash

The future of Ruapehu ski areas hangs in the balance after Ruapehu Alpine Lifts was put into liquidation this morning.

The High Court has appointed PWC’s John Fisk and Richard Nacey as liquidators.

The coming days will be pivotal, as the liquidator tries to sell the assets of Whakapapa and Turoa ski areas to two bidders.

It is uncertain whether Department of Conservation concessions to run the ski fields can be transferred to the new owners quickly enough time for it to open in a few weeks.

Since RAL went into voluntary administration late last year, owing about $45 million, Fisk and Nacey have been trying to stitch a deal together to enable the ski areas to continue.

However, two options to take over management of the company failed to gain enough support among creditors at a crucial meeting yesterday.

Fisk said going into liquidation was the worst possible outcome.

“It gives us a very short runway really, we will have sufficient funds to be able to continue to employ people on the mountain for a number of days and in that period we’re hopeful… that the Whakapapa Holdings and PureTuroa parties are still prepared to be at the table and ready to consummate a deal,” he said.

The time available for the Department of Conservation to transfer the concession was short, but the venture depended on it, Fisk said.

“The time is ticking and we need to be able to give certainty to everyone, so that the season can open, and if the season doesn’t open, then unfortunately one season closed probably means that it won’t ever open again.”

The liquidators would decide on the future of the company and would try to get the best price for Ruapehu Alpine Lifts from the buyer, Fisk said.

He believed all the necessary parties were still on board for a deal.

“Certainly the discussions that I had yesterday, there was still an appetite to do something, so I’m hopeful that will be the case, but I can’t guarantee that at the moment.”

He hoped the bids from the companies would remain the same and did not expect any last minute bids.

The structure of the deal that had been unsuccessfully put forward by the Ruapehu Skifields Stakeholders Association (RSSA) would become almost impossible under the liquidation framework, he said.

Fisk believed there were more risks with the proposal tabled by RSSA than the other bidders.

“The fact of the matter is that they needed to raise $2 million in working capital and at yesterday they advised us that they had raised $1.1m in working capital.

“Then they were dependent on season pass and life pass holders putting in about $7.5m, together with raising about $2m a year from crowd funding. Now all that creates uncertainty… and it’s uncertainty for the creditors as well in terms of when they are going to get paid.

“As opposed to the Whakapapa and Pure Turoa offers where, for example trade creditors would be paid within 10 days of the watershed meeting, in full.”

Ruapehu Alpine Lift’s directors have asked staff to continue to work.

“I really feel for the staff at the moment. They’ve been left in a situation again of uncertainty about what is going to happen, and for the businesses in the region that are so dependent on this moving forward. So the sooner we can try and resolve and resolve this, the better for everyone.”

The fields could open when the season would usually begin, Fisk said.

“There’s a huge amount of work that has gone on over the last eight months to be able to get the ski fields ready to operate and they are ready to go subject to the weather… like the whole country is at the moment. It’s not quite good enough for snow to be made or falling and we’ve got weather coming up that doesn’t sound like it’s going to be much better.”

The cost of shutting down the operation and removing the assets on the ski field would be about $150m. .

If the take-over failed and the ski fields remained closed this winter, the only creditor that might receive money back from the removal and sale of the assets on the mountain would probably be the ANZ, Fisk said.

“Everyone else will miss out. What that means is the two councils that have money there, half a million dollars in one case, that will be a cost imposed on the ratepayer in the region.

“The lines company that provides the electricity will miss out on the power that is paid for, which is significant on the mountain, and that cost will have to be reallocated to their other customers.

“And businesses won’t have nearly as much trade as what they would expect if the season opened. The costs of having to remove all the assets would fall on DOC and the taxpayer.”

It could take a week or two before the future of the ski fields is known.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : RNZ – https://www.rnz.co.nz/news/business/492369/ruapehu-alpine-lifts-goes-into-liquidation

Tags: AlpinebusinessRuapehu
Previous Post

ComCom examines Microsoft plan to acquire Activision

Next Post

Peermusic Acquires Bluegrass Legend Earl Scruggs’ Song Catalog & Majority of the Catalog of His Son, Gary Scruggs

Beyond the bust: How Ecology spill responders ensure safety after illegal drug operations – Department of Ecology – State of Washington (.gov)

After the Bust: How Ecology Responders Safeguard Communities from Illegal Drug Operations

May 9, 2025
MasterClass Announces Skin Health: A Science-Backed Guide to Healthy Skin – Morningstar

Unlock Radiant Skin: Discover the Science-Backed Secrets to Healthy Skin with MasterClass!

May 9, 2025
Scientists reel as turmoil roils National Science Foundation – NPR

Chaos Unleashed: The National Science Foundation Faces Unprecedented Turmoil

May 9, 2025
Andaz Miami Beach Debut Marks First New Opening for Hyatt Lifestyle Group – Travel Market Report

Hyatt Lifestyle Group Unveils Its First New Gem: Andaz Miami Beach!

May 9, 2025
80th anniversary of the end of World War II – NEWS10 ABC

Commemorating 80 Years of Peace: Reflecting on the End of World War II

May 9, 2025
Tennesseans have economic worry, oppose tariffs but back deportation efforts, poll finds – The Tennessean

Tennesseans Express Economic Concerns: Support for Deportation Efforts Amidst Opposition to Tariffs

May 9, 2025
Fall 2025 TV Schedule: Your Guide to the Complete Lineup – Wyoming News Now

Get Ready for Fall 2025: Your Ultimate Guide to the Exciting TV Lineup!

May 9, 2025

NYU Langone Health Further Expands World-Class Offerings in Suffolk County with New Ambulatory Care Facility in Westhampton Beach – NYU Langone Health

May 8, 2025
Trump changes his tune on speedy trade deals: From the Politics Desk – NBC News

Trump changes his tune on speedy trade deals: From the Politics Desk – NBC News

May 8, 2025
Air Force Invests in Whisper’s Ultraquiet Propulsion Technology – FLYING Magazine

Air Force Invests in Whisper’s Ultraquiet Propulsion Technology – FLYING Magazine

May 8, 2025

Categories

Archives

May 2025
MTWTFSS
 1234
567891011
12131415161718
19202122232425
262728293031 
« Apr    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (593)
  • Economy (604)
  • Entertainment (21,517)
  • General (15,210)
  • Health (9,646)
  • Lifestyle (609)
  • News (22,149)
  • People (607)
  • Politics (611)
  • Science (15,826)
  • Sports (21,114)
  • Technology (15,594)
  • World (594)

Recent News

Beyond the bust: How Ecology spill responders ensure safety after illegal drug operations – Department of Ecology – State of Washington (.gov)

After the Bust: How Ecology Responders Safeguard Communities from Illegal Drug Operations

May 9, 2025
MasterClass Announces Skin Health: A Science-Backed Guide to Healthy Skin – Morningstar

Unlock Radiant Skin: Discover the Science-Backed Secrets to Healthy Skin with MasterClass!

May 9, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version