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A company receiver from the United States is optimistic about extracting money after the failure of a partnership formed to run Auckland's new Vector Arena.
Michael Goldberg, the Florida-based receiver of Worldwide Entertainment, said he believed he could get at least some of the failed American company's money back.
He reported on a visit to New Zealand a few weeks ago to sort out the legal wrangle involving the two parties who formed a partnership to run the arena.
Jacobsens of Australia joined Worldwide to form the Quay Park Arena Management and run the venue.
But Worldwide Entertainment went into receivership last year. Goldberg has now produced his fifth report into Worldwide's business affairs.
"I travelled to New Zealand and attended meetings with counsel handling a case management conference in the High Court of New Zealand," he said.
"It is expected that the High Court will set forth a procedure to value Worldwide's interest in the Vector Arena as well as a timetable for the proceeding. I believe that this process will lead to the eventual recovery of fair value for Worldwide's interest."
