Reef Group Limited in receivership

WILLIAM MACE
Last updated 17:23 26/11/2012

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Shipping, fishing and fuel supply company Reef Group Limited has gone into receivership but the company will continue to operate as usual say receivers.

PWC receiver Colin McCloy announced the Auckland-based company's receivership today, saying he had been appointed to Reef Group and its "associated entities".

Reef Group's website says the company has interests across the South Pacific including eight cargo ships, a fleet of long-liner fishing vessels, a business supplying bulk fuels to a dozen Pacific island nations and the production and export of Niuean noni juice.

Reef Group is 89 per cent owned by Phillip McNicholl and Darrin Johannink, both of Auckland, alongside other private minority shareholders including former All Black great Michael Jones.

The business was formed in 1967 "from a small office on a South Auckland wharf" when it offered a shipping service between New Zealand and Fiji, according to its website.

Reef's shipping services currently service Fiji, New Caledonia, Vanuatu, Samoa, Tonga, American Samoa, Cook Islands, Niue, Tuvalu and Kiribati.

"We are committed to doing the best we can for the future of the Reef Group, its shipping business and services provided in the South Pacific," McCloy said.

"We will work diligently with relevant parties on the possible business and assets sale of the Reef Group (in receivership).

"Yet, in the meantime, it will be business as usual for its employees and contractors across the region."

Reef Group has six container vessels listed on its website, with one planned to leave Auckland today and another due to dock tomorrow. Another vessel is listed as being in Auckland for engine repairs.

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