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Edenz receiver KordaMentha seeking to recover NZ$6.6 million for the BNZ

Edenz receiver KordaMentha seeking to recover NZ$6.6 million for the BNZ

Apple coolstore and packhouse operator Edenz Limited owed the BNZ NZ$6.6 million when the bank pulled the plug and appointed receivers last September.

The first report from receivers Brendon Gibson and Grant Graham of KordaMentha notes BNZ pulled the plug after Edenz, which also leased and managed a number of orchards, defaulted on its banking arrangements.

Edenz's main asset, its 3.615 hectare coolstore and packhouse complex located near Havelock North, is being marketed for sale by Colliers.

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Be nice if only the BNZ was owed money.

 The apple industry has a problem of our own making. We sold varieties overseas that kept better, now we find that when we used to have a months window in the northern hemisphere to sell apples with no competition, they now have an overlap and no room for us. The apple industry is causing some headaches at present.