Creditors not hopeful as debt reaches $1.8m - News Summed Up

Creditors not hopeful as debt reaches $1.8m


PHOTO: ODT FILESA business owed money by a North Otago organic farm has lost hope of ever being paid as the liquidated company’s debt balloons to more than $1.8 million. Organic Solutions Ltd, which traded as Oamaru Organics, was placed into liquidation in May last year. The Alexandra-based transport company, listed as an unsecured creditor, had carted produce for Oamaru Organics from Oamaru into Queenstown and Cromwell. Oamaru Organics’ Totara property has also been sold to a neighbouring farming family. Liquidator Brenton Hunt said all secured creditors had been paid, one receiving $114,725, and a preferential creditor was paid $29,522 in staff holiday pay.


Source: Otago Daily Times January 18, 2026 15:33 UTC



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