The company, which was once worth more than US$4b, earlier this month announced a deal to sell its assets for US$39m.
The ASX-listed company also turned around its losses to move into profitability.
None of the creditors have yet registered security interests against the company.
The fire is out but the complications are just beginning.
Tauranga-based gentailer lowers guidance as a result.
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The situation calls for a formal inquiry under the Takeovers Act, says investment banker.