CREDITORS queue outside a meeting on Friday to discuss the future of the beleagured Ruapehu Alpine Lifts (RAL). This one was held on Ruapehu at the Top of the Bruce, with simultaneous gatherings in Auckland and Wellington.
SIMULTANEOUS meetings regarding the future of Ruapehu Alpine Lifts held last Friday, were unable to reach a conclusion as to how to get the beleaguered operation out of its predicament. RAL, which operates the Whakapapa and Tūroa skifields on Mt Ruapehu was put into voluntary administration owing more than $40 million last month. The company is the largest employer in the region, with about 196 staff employed across its two ski areas. However, simultaneous meetings of creditors held in Auckland, Wellington and on Ruapehu on Friday morning could reach no conclusion as to whether a rescue package could be put together for ski operations on the mountain. Reporters were not allowed into the Ruapehu meeting, which looked to be attended by more than 100 people at the Top of the Bruce. Ruapehu Skotel owner Sam Clarkson said he had hoped lifetime ski pass owners, who represented the largest group of creditors, would be willing to put in more money, virtually “crowd funding” the ailing skifields to keep them operating in future. “I am still hopeful this will happen but we didn’t get anywhere near to a decision on Friday,” Sam said. In the event there had only been two motions, neither of which shed light on the future of the company: one vote was on whether the voluntary administrators from PricewaterhouseCoopers (PwC) John Fisk and Richard Nacey, should be kept on. “Well, there were no other nominations, so therefore no competition for that one,” Sam said. “Then there was a vote on a resolution to set up a creditors’ committee, which despite having many votes to count looked like it would pass easily. We all expect this committee to be set up within a few days.” Sam said normally when a company went into administration a period of 20 days was given to receivers in which to determine its fate, but in the case of RAL, the High Court had agreed to give PwC until May next year to come up with a plan. Summer operations on the mountain were expected to continue as normal in the meanwhile. “I remain hopeful that we (lifetime pass holders) can come to the rescue, but it’s not for me to say this will happen – ultimately I am only one vote,” Sam said.
