National Dairy Products suppliers left in limbo as milk broker enters into liquidation

Embattled milk broker National Dairy Products (NDP) has gone into liquidation after months of failed negotiations. By Bridget Fitzgerald.
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NDP went into voluntary administration in November after farmer suppliers, owed tens of thousands of dollars, walked away from the company.
Victorian dairy farmers are owed millions of dollars for milk supplied during 2016.
But other creditors include couriers, consulting firms, and transporters, including one trucking company which is owed $1.3 million dollars.
The decision to liquidate comes after creditors rejected an offer to be repaid between five and 17 cents in the dollar at a meeting in December 2016.
Riverslea dairy farmer Fiona Plant was one of 10 creditors who met with the administrator Deloitte in Melbourne on Wednesday, where the decision was made to liquidate.
Ms Plant said the liquidation process could take up to two years.
She said she and her fellow creditors may not see any money repaid once the liquidation is complete.
«It’s probably the worst case scenario as far as getting paid the full amount,» she said.
«We’ve been going through problems [with the company] for 12 months now and it just feels like it’s going on forever.»
Ms Plant said she was unsure whether she and other creditors would be required to cover any costs of liquidation.
«We’ve already lost millions of dollars, we can’t afford to pay the liquidators,» she said.
«We’d rather this just be over and done with and we’ll get on with what we do best, which is producing top quality milk.»
Former NDP managing director Tony Esposito has been contacted for comment.
Source: ABC
Link: http://www.abc.net.au/news/2017-02-22/ndp-liquidation/8293810
 

Mirá También

Así lo expresó Domingo Possetto, secretario de la seccional Rafaela, quien además, afirmó que a los productores «habitualmente los ignoran los gobiernos». Además, reconoció la labor de los empresarios de las firmas locales y aseguró que están «esperanzados» con la negociación entre SanCor y Adecoagro.

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