The receivership of a Central Otago vineyard has wrapped up after its debts were settled.
In April, Lamont Wines Ltd was placed in receivership after two separate parties, including one of its shareholders, appointed receivers.
Earlier this week, a public notice was issued saying the receivership ceased on September 2.
The vineyard was launched in 2001 by the McLachlan family and in 2009 it was converted to organic. The company was owned by Craig and Angela Gasson at the time of receivership.
On April 8, Duncan Fea, of Findex (NZ) Ltd, was appointed receiver by Southern Ventures NZ Ltd, under the terms of a General Security Agreement (GSA) dated June 26, 2017. At the time of the receivership, Southern Ventures was a 50% shareholder in Lamont.
On April 15, BDO Christchurch was appointed receiver of the company under a GSA with Westpac New Zealand Ltd, dated 2014.
However, it was retired after the overdraft to the bank was refinanced.
At the date of Mr Fea’s appointment, the company owed Southern Ventures $641,000 and Westpac $140,000.
Southern Ventures repaid Lamont’s debt to Westpac, increasing the amount owed to it to $781,000.
In the final receiver’s report, Mr Fea said during the reporting period a total of $207,000 was distributed from the sale of company assets and control of the company and assets had been returned to the director.
According to the company office website, Lamont Wines Ltd is now 100% owned by Southern Ventures NZ Ltd.
