Crowds of skiers flocked to the Turoa field. Photo: RNZ
Ruapehu Alpine Lifts will file for liquidation today, after two options to take over management failed to gain enough support among creditors at a crucial meeting yesterday. The coming days are pivotal as the liquidator tries to sell the assets of Whakapapa and Turoa ski areas to two separate bidders.
A big question is whether Department of Conservation concessions can be transferred to new owners in enough time for the ski areas to open in a matter of weeks.
Since RAL went into voluntary administration late last year, owing $45 million, PWC's John Fisk and Richard Nacey have been trying to stitch a deal together to enable the ski areas to continue. John Fisk says yesterday's vote was the worst possible outcome. So with the clock ticking, can a deal still be done?
