Controversial businesswoman May Wang, the woman behind Natural Dairy NZ's bid for the Crafar farms, has been granted a reprieve at her latest court appearance.
May Wang, the majority owner of UBNZ Funds Management which is bidding for the Crafar farms, will have until November to prepare a case to stave off bankruptcy.
Westpac bank is seeking to have Ms Wang declared bankrupt over a $620,000 debt.
Her failed Dynasty Group owes creditors more than $22m, and has offered a settlement of 6.5c in the dollar.
Inland Revenue and creditor Latitude Asia have filed objections to the offer, citing Ms Wang’s ‘history of conduct’ as a concern.
The objections will be heard at a two day hearing starting on November 2nd.
