Airwork Group goes into receivership - NBR | The Authority since 1970

Airwork Group goes into receivership - NBR | The Authority since 1970

The formerly listed general aviation company has ended up in the hands of receivers after a shareholder breach of the group's banking facilities.

NZ's Airwork Group enters receivership, seeks investors

New Zealand entities of Airwork Holdings Limited, trading as Airwork Group, were placed into receivership "following a shareholder breach of the group's banking facilities," related to the looming default on its loans from a consortium of Australian and New Zealand banks. Receivers said the company would continue to trade as it seeks new investors. Brendon Gibson, Daniel Stoneman, and Neale Jackson of Calibre Partners were appointed as receivers…