A North Otago irrigation company – in receivership – owes more than $50 million and creditors include a government entity and the Waitaki District Council. The receiver’s report into Kurow-Duntroon Irrigation Company Ltd warns the company’s 70 shareholders could be put under substantial financial pressure if a claim of liability is taken out against them. Last month, the irrigation company was put into receivership by the government-owned Crown Irrigation Investments Ltd. An adjudication process found Kurow Duntroon Irrigation was liable to pay Monadelphous about $12.8 million following a dispute over a $45 million project the engineering group was undertaking for the company. The Council got upset with a breach of consent when a section of the new pipeline blocked the view of the Waitaki River west of Kurow. An ensuing dispute over who was liable for the cost of putting it right sent the company into bankruptcy.
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