Waikato-Based Organic Dairy Hub Enters Voluntary Liquidation
Source: The DairyNews
Waikato-based cooperative Organic Dairy Hub (ODH) has chosen voluntary liquidation, a decision made by its 28 organic dairy farmer shareholders.
The co-op, formed in 2015, processes milk at various North Island sites, exporting certified dairy products under the brand Ours Truly, including A3 organic dairy products. The voluntary liquidation, filed on November 29, is deemed solvent, with KPMG liquidators stating that all creditors are expected to be paid in full within 12 months. ODH directors believe the co-op can meet its debts within the same period, and remaining funds will be distributed to shareholders after creditors are settled.
The liquidation is solvent, with assets totaling $144,851.54, including $50,238.40 in the bank, $31,000 of stock, and $54,052.89 in receivables and property, plant, and equipment valued at $10,000. The expected liquidation cost is $55,000.
The liquidation is solvent, with assets totaling $144,851.54, including $50,238.40 in the bank, $31,000 of stock, and $54,052.89 in receivables and property, plant, and equipment valued at $10,000. The expected liquidation cost is $55,000.
