Sharechat Logo

Receivers appointed to Pike River Coal

Monday 13th December 2010

Text too small?

John Fisk, David Bridgman and Malcolm Hollis, partners from PricewaterhouseCoopers, have today been appointed receivers of Pike River Coal. 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.

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.

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. 



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

CHATHAM ADVISES EXTENDED CLOSING DATE OF 9 AUGUST FOR SPP
Acceleration of expressway will be transformative for Northland economy says EMA
The Warehouse Group - Proposed Scheme of Arrangement
The Warehouse Group - Proposed Scheme of Arrangement
Winton announces timing of its Annual Results
Fletcher Building Announces Director Appointment
Meridian issues new demand response exercise notice to NZAS
CRP - Chatham Closes Private Placement of Shares
General Finance - Olympic Term Deposit Promotion featuring a Special Bonus of 0.1%
July 22nd Morning Report