The owner of a Waiheke Island vineyard that went into receivership owing $5 million blames "bureaucrats" for his plight.
Ridgeview Estate's Denis Musson asked for his Rocky Bay restaurant, vineyard and winery to be placed in receivership after a sale fell through at "the eleventh hour" three weeksago.
Joint receiver Rowan Chapman, of WHK Gosling Chapman, said it owed $3.5m to secured creditors, $1m to shareholders, and $500,000 to about 100 unsecured creditors, including suppliers of food and equipment.
Musson would say only that a 17-month wait for Auckland City Council to grant a non-notified resource consent for the restaurant was a big factor in the debt.
"The stop sign is up in New Zealand, and Australia's got a green light going. And that's all I can say about bureaucrats passing laws designed to stop the country."
Council manager for the Hauraki Gulf island, Geoff Atherfold, said the delay was down to "complex environmental issues" and the need to collect extra information, including the impact of traffic and noise on neighbours.
There was a further delay because the Auckland Regional Council needed to give consent for stormwater and wastewater disposal.
The 7.85ha estate _ which hosted big crowds for concerts by the Little River Band last summer _ will be marketed in New Zealand and overseas.
But Chapman said it was "very hard" to say if unsecured creditors would recover their costs in full.
"It all revolves around the ability to sell the business for more than $5m. It's got to be sold, so by using the tender process we think we can maximise value."
Musson said the restaurant had traded well since opening last year, but a kitchen fire last month had been a small setback. He said there was interest in the business and it was too early to say that creditors were concerned about not recovering costs.
Musson also runs the Waiheke airfield, and is project manager for a proposed $10m development at the aerodrome that angered residents last September.
Ridgeview will continue to run as usual, with the restaurant and vineyard open to the public on Fridays and Saturdays.
Real estate company Bayleys will handle the six-week tender on the property, which is expected to go on the market in a week.
