Mahana director calls in receivers
Nelson-based vineyard and hospitality provider Mahana Estates has been placed into receivership as its director, Glenn Schaeffer, fights a High Court battle against a United States investor in the business.
Kordamentha partners Brendon Gibson and Natalie Burrett will handle the receivership, a statement from the receiver said.
In the latest ruling from the High Court at Nelson, Schaeffer alleged Las Vegas-based investor Daniel Lee had threatened him.
‘‘Mr Schaeffer alleges Mr Lee said: … he knew where I lived, knew where my family lived and knew where my dogs lived. He said if I did not give him back his money that he would bury me in the desert like in the old days, he would destroy my children’s lives and bankrupt my ex-wife and travel to Omaha to kill my three show dogs. He ended his threats with the words: ‘Give me my f ...... money,’ ’’ according to the High Court ruling.
Schaeffer had repeated the alleged threats to back up his claims he couldn’t prepare a proper defence under the circumstances.
But the judge ruled the threats were a distraction from the main issues at stake.
It is unclear how the receivership of the winery will affect the investment dispute, except that control of the assets are now out of Schaeffer’s hands.
Gibson said the company had requested the appointment of receivers due to its financial difficulties, including an ongoing shareholder dispute.
Schaeffer is the sole director of Mahana Estates.
Gibson said the receivers would try to work with the director and stakeholders.
‘‘We will be maintaining assets of the estate and focus on concluding a realisation process to optimise value of the assets,’’ Gibson said.
Mahana employs six people in New Zealand. The receivers said they would look to find a buyer ‘‘leveraging off the sales process undergone to date’’.
Mahana, formerly Woollaston Estates, is on the hills above Mapua and has been operating for 18 years as a vertically integrated winery. It includes 30 hectares of mixed-grape vineyards, a gravity flow winery and bottling plant, and a cellar door, restaurant and event space.
The receivers have also been appointed to a related party, Woollaston Estate Holdings, which is the land-owning entity.