Controversial dairy farmer’s company in receivership
A Manuwatu dairy farmer who was convicted for obstructing an animal welfare officer has had his company placed into receivership after apparently over-extending on debt.
PricewaterhouseCoopers partners Maurice Noone and John Fisk have been appointed as receivers of Robert McVitty’s company McVitty Properties and Patoka Dairies, in which McVitty Properties holds a majority stake.
Mr Noone said the company appears to have over extended itself, and has not be able to secure the necessary funding to fund current operations and current debt levels.
“As you can imagine, this is a last resort following extensive discussions between the parties, and is as a result of them failing to reach an acceptable position for each.”
He said that the situation could cause uncertainty and “accordingly we will work as quickly as possible to complete the restructure plan and to secure funding to complete this.”
The receivers are adopting a “business as usual” approach and all employees will be retained while they work through and develop their strategy.
In April 2008 Mr McVitty was convicted in the Palmerston North High Court for obstructing an animal welfare officer after he shot a cow in front of a MAF investigator.
Mr McVitty has also had a conviction for assault.
He has also been in trouble with the Horizons Regional Council over non-compliance with effluent discharge rules.
And he appeared on Fair Go last year over $66,000 he owed to the business of Paula McCutcheon’s late husband.
He paid the money soon after the programme aired.