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 of the company. Their first report on the progress of the receivership is…

Source: ch aviation
Read more: NZ's Airwork Group enters receivership, seeks investors