Tamarind NZ enters administration, page-17

Hi Pumper

Whilst I have not seen the article in question, the only way to tie in the parent company is through a class order, or a corporate guarantee, and that would be very rare in these circumstances. News articles never have the legal details in these cases.

I am sure the legal representatives of Tamarind would have ensured their position was water tight in terms of no recourse back to the parent or entity/ies that have assets or generate income when the original documentation was executed.

Bear in mind too that this is would be a voluntary administration (VA), not a liquidation, so it will likely be followed by a DOCA with a deed offer attached. As such, this is a mechanism to ensure the company is not put into liquidation and any claims are then satisfied under the deed offer. In short, if a DOCA is on foot it is highly likely that the offer will be accepted and then all debts and claims will be extinguished against this NZ entity and that will be the end of it.

Cheers and GLTAH.