Organiser of yoga festival in liquidation, owes $1.6m

The New Zealand company in charge of organising Wanderlust yoga festivals here and in Australia owes at least $1.6 million.

Yoga Events Australia New Zealand, directed and owned by Jonnie Halstead, was placed in liquidation on January 12, the liquidator’s first report said.

It owes 128 creditors, including regional New Zealand and Australian councils, yoga teachers, event hire companies, and media companies including Fairfax Media.

Australian yoga teacher and smallbusiness owner Lee Holmes is owed A$850 (NZ$930) by Yoga Events for making two speeches at its Sunshine Coast Wanderlust festival in November.

She only became aware that the festival was operated by a New Zealand registered company after it had been liquidated last week. ‘‘I had absolutely no idea. Every contract was signed off with Wanderlust.’’

Holmes said she was frustrated that the US company Wanderlust Holdings had not kept a better eye on Yoga Events’ finances.

Wanderlust co-founder Sean Hoess, who licensed the rights to operate the festival to Yoga Events here, said Halstead told him of Yoga Events’ financial strife in December and the amount it owed shocked him.

Hoess said yesterday that he was in the process of confirming another event management company to take over the operating licence for New Zealand and Australia.

Until a new partner is confirmed, it was uncertain if Wanderlust’s annual four-day music and yoga festival in Taupo¯ , set for March 8 to 11, would go ahead.

Tickets had been sold for up to $490 each when Yoga Events liquidated this month.

The Taupo¯ District Council has funded the event since it was introduced in its region three years ago. Mayor David Trewavas said the council would only continue to fund it if Hoess came up with a ‘‘rock-solid plan’’ to save it.