Unsecured creditors claim $1.8m from Vinoptima Estate

AUCKLAND: Unsecured trade creditors are claiming $1.8 million from a Gisborne vineyard founded by prominent vintner Nick Nobilo, the receiver has said.

Secured creditors are expected to boost that sum.

Andrew McKay, the Aucklandbased receiver of BDO in charge of Vinoptima Estate, said it was unknown how much money creditors would get back.

‘‘The only way is to get further down the process. At this stage it’s totally uncertain,’’ Mr McKay said of money to repay those making claims. That is because assets are yet to be realised.

Whether there will be a surplus will depend partly on the property sale process, being conducted via a tender closing in early December.

The 11.92ha property could be sold, along with 100,000 litres of wine stored there, Mr McKay indicated.

He was ‘‘open to all offers’’ and could sell the wine along with the property or split the two, and said he had had discussions with a number of parties on the wine alone.

He did not say in advance of issuing his report how much is being claimed by secured creditors — in addition to the $1.8 million claimed by unsecured creditors.

The Personal Property Securities Register shows four businesses with securities over Vinoptima Estate, a boutique vineyard Mr Nobilo founded in 2000 and which he said this week had produced around 40,000 bottles of wine annually between 2004 and 2015.

However, he also revealed 100,000 litres of wine on the property.

The property’s marketing says the estate at 138 Ngakoroa Rd, Ormond, has an internationally acclaimed reputation, ‘‘heralded as one of the finest wineries in the world’’, producing gewurztraminer from a customdesigned winery with an amphitheatre layout.

‘‘The purposebuilt winery comes complete with a selfcontained flat, ideal for the livein manager through busy vintage times. Historically, an intensive vineyard management programme has ensured the vineyards have been carefully monitored and managed to produce quality grapes,’’ marketing says.

‘‘The estate offers potential to increase bottling capacity and significantly grow the business through broadening the portfolio into other desirable varieties such as chardonnay and sauvignon blanc,’’ an ad says.