* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, October 17, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Bricktown continues to thrive as OKC’s entertainment district – OKC VeloCity

    Bricktown Shines as Oklahoma City’s Premier Entertainment Hotspot

    This Haunting ‘60s Country Song Is Even More Tragic Than You Remember – Yahoo

    This Haunting ’60s Country Song Will Break Your Heart All Over Again

    Arts/Entertainment: ‘Wait Until Dark’ brings spooky season center stage – Times Herald Online

    Wait Until Dark’ Delivers Chilling Thrills Perfect for the Spooky Season

    Bluesman James Montgomery Will Perform In Falmouth – CapeNews.net

    Blues Legend James Montgomery Ready to Ignite the Stage in Falmouth

    Mexican singer Pedro Fernández to make Ave Fénix tour stop in Stockton. Tickets, schedule – Yahoo

    Mexican Singer Pedro Fernández Brings the Ave Fénix Tour to Stockton – Don’t Miss It!

    Flutter Entertainment’s SWOT Analysis: Uncovering the Growth Potential Amid Challenges

  • 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
    Spanning the Gulf: Global Defence Technology 155 – Army Technology

    Spanning the Gulf: Exploring Cutting-Edge Global Defence Technology

    A Nobel Prize for explaining when technology leads to growth – NPR

    Nobel Prize Awarded for Unraveling How Technology Drives Economic Growth

    Erie Canal’s 200th anniversary: How a technological marvel for trade changed the environment forever – The Conversation

    Erie Canal’s 200th Anniversary: How a Trade Marvel Transformed the Environment Forever

    Day 5 of Gains Streak for Solidion Technology Stock with 475% Return (vs. -20% YTD) [10/14/2025] – Trefis

    Solidion Technology Stock Rockets for 5th Consecutive Day, Soaring an Astonishing 475% Year-to-Date

    Tracking DNA and RNA Together To Unlock Disease Insights – Technology Networks

    Unlocking Disease Insights by Tracking DNA and RNA Together

    The future of battery technology – Engineer Live

    Revolutionizing Energy: Exploring the Future of Battery Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Bricktown continues to thrive as OKC’s entertainment district – OKC VeloCity

    Bricktown Shines as Oklahoma City’s Premier Entertainment Hotspot

    This Haunting ‘60s Country Song Is Even More Tragic Than You Remember – Yahoo

    This Haunting ’60s Country Song Will Break Your Heart All Over Again

    Arts/Entertainment: ‘Wait Until Dark’ brings spooky season center stage – Times Herald Online

    Wait Until Dark’ Delivers Chilling Thrills Perfect for the Spooky Season

    Bluesman James Montgomery Will Perform In Falmouth – CapeNews.net

    Blues Legend James Montgomery Ready to Ignite the Stage in Falmouth

    Mexican singer Pedro Fernández to make Ave Fénix tour stop in Stockton. Tickets, schedule – Yahoo

    Mexican Singer Pedro Fernández Brings the Ave Fénix Tour to Stockton – Don’t Miss It!

    Flutter Entertainment’s SWOT Analysis: Uncovering the Growth Potential Amid Challenges

  • 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
    Spanning the Gulf: Global Defence Technology 155 – Army Technology

    Spanning the Gulf: Exploring Cutting-Edge Global Defence Technology

    A Nobel Prize for explaining when technology leads to growth – NPR

    Nobel Prize Awarded for Unraveling How Technology Drives Economic Growth

    Erie Canal’s 200th anniversary: How a technological marvel for trade changed the environment forever – The Conversation

    Erie Canal’s 200th Anniversary: How a Trade Marvel Transformed the Environment Forever

    Day 5 of Gains Streak for Solidion Technology Stock with 475% Return (vs. -20% YTD) [10/14/2025] – Trefis

    Solidion Technology Stock Rockets for 5th Consecutive Day, Soaring an Astonishing 475% Year-to-Date

    Tracking DNA and RNA Together To Unlock Disease Insights – Technology Networks

    Unlocking Disease Insights by Tracking DNA and RNA Together

    The future of battery technology – Engineer Live

    Revolutionizing Energy: Exploring the Future of Battery Technology

    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

Shattered concrete, dirty water and asbestos: Israeli bombing causes ‘unparalleled’ ecological crisis in Gaza – TBIJ

Devastating Israeli Bombing Triggers Unprecedented Ecological Crisis in Gaza

October 17, 2025

Celebrating 15 Years of Family Fun and Discovery at the Wisconsin Science Festival

October 17, 2025
Why are humans religious? Scientists are studying miracles to find out. – National Geographic

Why Do Humans Believe in Miracles? Scientists Explore the Mystery of Religion

October 17, 2025
Man Missing His Dog While at the Club Is Far Too Relatable – Yahoo

Man Missing His Dog While at the Club Is Far Too Relatable – Yahoo

October 17, 2025
Spanning the Gulf: Global Defence Technology 155 – Army Technology

Spanning the Gulf: Exploring Cutting-Edge Global Defence Technology

October 17, 2025
Ohio State vs. Wisconsin prediction, pick, odds, spread, where to watch live – CBS Sports

Ohio State vs. Wisconsin prediction, pick, odds, spread, where to watch live – CBS Sports

October 16, 2025
Equipping agents for the real world with Agent Skills – Anthropic

Unlocking Agent Potential: Mastering Advanced Skills to Tackle Real-World Challenges

October 16, 2025
Comments – The AI boom is propping up the whole economy – Slow Boring

How the AI Boom Is Fueling an Economic Revolution

October 16, 2025
Bricktown continues to thrive as OKC’s entertainment district – OKC VeloCity

Bricktown Shines as Oklahoma City’s Premier Entertainment Hotspot

October 16, 2025
Baylor Partners on Up to $28M Initiative to Build Precision Phage Platform for Promoting Public Health – Baylor University

Baylor Partners on Up to $28M Initiative to Build Precision Phage Platform for Promoting Public Health – Baylor University

October 16, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
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 (871)
  • Economy (892)
  • Entertainment (21,764)
  • General (17,637)
  • Health (9,934)
  • Lifestyle (905)
  • News (22,149)
  • People (893)
  • Politics (902)
  • Science (16,103)
  • Sports (21,392)
  • Technology (15,872)
  • World (875)

Recent News

Shattered concrete, dirty water and asbestos: Israeli bombing causes ‘unparalleled’ ecological crisis in Gaza – TBIJ

Devastating Israeli Bombing Triggers Unprecedented Ecological Crisis in Gaza

October 17, 2025

Celebrating 15 Years of Family Fun and Discovery at the Wisconsin Science Festival

October 17, 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