KordaMentha has announced it has been appointed as receiver for Lighter Quay Hotel Management, the company involved with the five star Westin Hotel complex in Auckland's Lighter Quay development on The Viaduct Harbour.
The Westin hotel was developed by Nigel McKenna, who was also behind the Kawarau Falls project in Queenstown, which was backed by Hanover Finance is now in receivership under the direction of Allied Farmers.
"The receivership is the result of failed negotiations between Lighter Quay Hotel Management and its creditors (including room owners who lease the hotel rooms to Lighter Quay Hotel Management)," KordaMentha's Michael Stiassny and Brendon Gibson said.
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A scheme of arrangement originally proposed to creditors in May and voted on by creditors on 24 June 2010 was rejected. As a result, an interim liquidator was appointed to the company so a secured creditor has appointed receivers to protect its interests.
Michael Stiassny said he wanted to reassure the public the hotel would keep operating.
“Since opening in 2007 to much acclaim, the Westin Hotel has remained popular with locals as well as other domestic and international guests. It is fully booked for the Rugby World Cup next year. We want to reassure investors, the hotel operator, staff, suppliers and guests to the Westin Lighter Quay that it is our intention for the hotel to continue to operate as usual," Stiassny said.
"As such, we will be seeking to meet with both the hotel operator and representatives of the hotel room owners as a priority."
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