Creditors put dairy farm operation into liquidation – ANZ among those owed nearly $600,000

A New Plymouth dairy farm is in liquidation, owing more than half a million dollars to creditors. John Scutter of insolvency company Fervor was appointed liquidator of Collins & Cameron Limited on November 5. The company had been dairy farming since May 2004, leasing land in Waitara for herd grazing.

According to the liquidator’s report, the company’s productivity decreased over the last two years, resulting in a reduction of cash flow and increased outstanding obligations. Inland Revenue issued a statutory demand for obligations due in October..