Crafars say receivers have "substantially mismanaged" their farms and the sale process and were called in without any prior warning.

The Crafar bid to seek an injunction stopping the sale of their dairy empire by receivers appears to have been called off.

Receivers for the Crafar dairy empire say the request for an injunction stopping the sale is 'unfortunate' and without merit.

Allan Crafar is being uncharacteristically coy about whether he’s been able to come up with money needed to settle his debts, despite earlier assurances that he would.

Real Estate Institute boss Peter McDonald has backed a bid by state-owned farmer Landcorp to purchase the Crafar empire.

Battling dairy farmer Allan Crafar is confident he can come up with the more than $200 million he needs to settle his debts by 4pm today.

The Chinese backed bid to buy up 16 Crafar family farms in receivership has been lodged with the Overseas Investment Office.

State-owned Landcorp Farming will meet today to decide whether to bid for 16 farms from the Crafar empire being sold by receivers.

Nearly 90pc of Fonterra's 10,500 farmer shareholders have voted to approve a new share trading plan.

Fonterra's farmer shareholders today voted in favour of the Trading Among Farmers proposal, approving plans to make its stock tradeable among themselves, freeing up capital for new investments.

May Wang has upped her payment to creditors in her failed property development company to 6c in the dollar.

Fonterra chief executive Andrew Ferrier says tomorrow's vote on whether to start share-trading among farmers is the most important decision for its farmers since the co-op was created.

May Wang's creditors have "overwhelmingly" voted in favour of a repayment plan that will see them get 2c in the dollar back.

Landcorp, the state owned farming company, says its bid for the Crafar farms will be a "clean bid".