Ruapehu Alpine Lifts Goes Into Liquidation | New Zealand
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The Ruapehu ski areas are facing an uncertain future as Ruapehu Alpine Lifts (RAL) was placed into liquidation. The appointment of PWC's John Fisk and Richard Nacey as liquidators by the High Court adds further complexity to the situation. The next few days will be crucial as the liquidators attempt to sell the assets of Whakapapa and Turoa ski areas to potential buyers. However, the transfer of Department of Conservation concessions to the new owners remains uncertain, raising concerns about the timely opening of the ski fields in a few weeks.Background: Late last year, RAL voluntarily entered administration with approximately $45 million in debt. Since then, Fisk and Nacey have been tirelessly working towards a resolution that would allow the ski areas to continue operating. Unfortunately, two proposed management takeover options failed to garner sufficient support among creditors during a critical meeting held recently.
