Receivers estimate nearly $30 million is owed to creditors by the owners of 3321.3ha Spotburn Station in the Cardrona Valley.
The deer farm is the subject of a combined mortgagee and receiver sale, with a sale deadline of tomorrow.
The companies placed into receivership in September are JP and BM Holdings Ltd, and Develop Spotburn Ltd. The receivers' first report, dated September 9, noted JP and BM Holdings Ltd was also subject to liquidation proceedings issued by the Commissioner of Inland Revenue in relation to unpaid GST and PAYE.
The report said, while the process of realising the companies' assets was not complete, there was "unlikely to be any funds available for unsecured creditors".
The Companies Office lists Bronwyn Denize as the sole director of both companies, which have owned and managed Spotburn Station since buying the property about three years ago from fourth-generation Cardrona Valley farmer John Scurr and his family.
