Receivers selling Gibbston wine

Receivers have sold almost 8000 cases of wine from a Gibbston Valley company previously run by Christchurch-based developer David Henderson, but the receivership of Anthem Holdings is tied up in legal action.

The latest receivers' report by Paul Sargison and John Leonard, of Gerry Rea Partners in Auckland, says all red wines were sold and a small amount of white wine was being sold through an online auction site.

In the background, receivers have filed a claim against a party holding Anthem stocks, claiming a Central Otago company sold wine from the 2006 and 2007 vintages without authority.

Mr Henderson has also filed a claim for a prior ranking security over the receivers' appointor Perpetual Trust and entitlement to the proceeds of wine sales.

The wine inventory was worth about $1 million.

Mr Sargison yesterday said there were 7995 cases of wine and 60,000 litres of wine in storage overall.

About 100 cases of white wine remained, he said.

"We are really just waiting for the court action.

"Once they are complete the receivership will be finished," he said.

The report says an Anthem trade mark was reinstated after it was illegally transferred out of the company.

Mr Sargison said the Intellectual Property Office reinstated the trade mark, which was sold to New Zealand Wine Cellars.

Receivers also sold the statue Joie de Vie for $45,000 to a buyer in the Queenstown-Lakes district, he said.

Mr Henderson, who was appointed director of Anthem in 2002, yesterday said Gerry Rea partners would have to repay proceeds from wine sales and the trade mark sale.

The Personal Property Securities Register showed the appointor as second ranking security holder and he was comfortable with the pending legal action, he said.

"The receiver can do what he likes but he is really exposing himself," he said.

So far, the receivers' report said, $407,939 was realised from wine sales, $371,079 was spent on legal fees and $281,345 was distributed as receivers' fees.

Anthem was incorporated in 1999 to develop the Gibbston Valley vineyard.