Embattled dairy farmer Allan Crafar says he is 90% certain of raising the cash that would release his farms from the clutches of receivers.Where he would find the funds was unclear.In the High Court at Auckland today, Mr Crafar was struck a blow when Just
Embattled dairy farmer Allan Crafar says he is 90% certain of raising the cash that would release his farms from the clutches of receivers.
Where he would find the funds was unclear.
In the High Court at Auckland today, Mr Crafar was struck a blow when Justice Rhys Harrison dismissed an application for an interim injunction preventing receivers KordaMentha from selling his farms.
The Crafar family businesses owe major lenders Westpac and Rabobank more than $200 million.
Tenders for the sale of the properties closed on Wednesday, with a number of bids received, including a couple of last minute additions submitted from Waikato interest – one of which was unconditional.
Mr Crafar told the National Business Review this afternoon that he felt his chances of raising the cash was good if he was allowed the time to do it.
“If you ask why this hasn’t happened before now, well nothing would get done if it wasn’t for the last minute,” he said.
“Most people don’t act until there is immanent danger.”
