Gisborne logging company unable to pay $1.7 million to creditors

Lift Harvesting Ltd, a Gisborne-based logging company, has been placed into liquidation, owing nearly $1.7 million to creditors but recovering only $1.79. The Inland Revenue Department is the largest creditor, claiming over $1.14 million in total as both a preferential and unsecured creditor. The Insolvency and Trustee Service has been appointed as the liquidator, overseeing the process involving multiple creditors.

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