4 July 2024
Ref: DOIA 2324-2393
Stephen Prendergast
Email
: [FYI request #26600 email]
Tēnā koe Stephen Prendergast
Thank you for your email of 1 May 2024 to the Ministry of Business, Innovation and Employment (MBIE)
requesting, under the Official Information Act 1982 (the Act), the fol owing information:
Please supply all correspondence from 1 October 2023 between MBIE and Calibre, and
MBIE regarding the treatment of RAL life pass holders benefits for the period of
receivership.
On 28 May 2024, MBIE wrote to you advising you that an extension was necessary, as your request
necessitated a search through a large quantity of information and consultations with various third parties
which were necessary to make a decision on your request were such that a proper response could not
reasonably be made within the original time limit.
MBIE notes that decisions relating to the treatment of RAL life pass holders are ultimately made by
Ruapehu Alpine Lifts Limited’s (In Liquidation and Receivership) receivers since they are in control of the
Whakapapa business. For the 2024 season, RAL’s receivers offered life pass holders a 30% discount on all
2024 Season Pass deals.
RAL’s receivers have publicly stated that “we acknowledge the difficult situation life pass holders have
been left in fol owing RAL’s insolvency. The financial position and performance of the Whakapapa
business is a critical element of its ability to survive over the longer-term. Accordingly, revenue needs to
be generated from al mountain users.”
MBIE has identified the fol owing documents within scope of your request:
Date
Type
Document title
Decision
25/09 - 21/11/2023
Email
FW: Receivership cashflows DRAFT
Released
Memo re Receivership
25/09/2024
Document
Released
cashflows_DRAFT
Whakapapa only high-level 5 year
26/01 - 02/02/2024
Email
Released
analysis
RAL updated cashflow and funding
23/02/2024
Email
Released
request
11/04/2024
Email
RAL - Draft Media release
Released
Withheld - 9(2)(g)(i),
11/04/2024
Document RAL - Draft Media release
final version supplied
12/04/2024
Email
Final press release
Released
LPH emails and Media Release
15/04/2024
Email
Released
attached
15/04/2024
Document LPH Email 12 April FINAL
Released
15/04/2024
Document FY24 pricing comms FINAL
Released
15/04/2024
Email
FW Life pass holder update
Released
Please note some information has been withheld under the following sections of the Act:
• 9(2)(a), to protect the privacy of natural persons, including that of deceased natural persons;
• 9(2)(b)(ii), to protect information where the making available of the information would be likely
unreasonably to prejudice the commercial position of the person who supplied or who is the
subject of the information;
• 9(2)(g)(i), to maintain the effective conduct of public affairs through the free and frank expression
of opinions by or between or to Ministers of the Crown or members of an organisation or officers
and employees of any public service agency or organisation in the course of their duty; and
• 9(2)(j), to enable a Minister of the Crown or any public service agency or organisation holding the
information to carry on, without prejudice or disadvantage, negotiations (including commercial
and industrial negotiations).
If you wish to discuss any aspect of your request or this response, or if you require any further assistance,
please contact
[email address].
Please note that this response and enclosed documents, with your personal details removed, may be
published on the MBIE website:
www.mbie.govt.nz.
You have the right to seek an investigation and review by the Ombudsman of this decision. Information
about how to make a complaint is available a
t www.ombudsman.parliament.nz or freephone 0800 802
602.
Nāku noa, nā
Tane Dewes
Manager Operations Support and Improvement
Kānoa – Regional Economic Development & Investment Unit
From:
Josh Hercus
To:
Robert Pigou
Cc:
Shaun Brown
Subject:
FW: Receivership cashflows DRAFT [IN-CON
ENCE]
Date:
Tuesday, 21 November 2023 3:12:28 pm
Attachments:
Memo re Receivership cashflows DRAFT.pdf
Out of Scope
From: Martin Burrows <[email address]>
Sent: Monday, 25 September 2023 3:54 pm
To: Robert Pigou <[email address]>; Josh Hercus <[email address]>; Murray Beatson <[email address]>
Cc: Shaun Brown <[email address]>; Brendon Gibson <BGibson@calibrepartners co.nz>; Michael Harper
<[email address]>; Mark Reese <[email address]>; Bonita Morrissey Smith
s 9(2)(a)
Ben Methven <[email address]>; Oliver Cherry s 9(2)(a)
Subject: RAL: Receivership cashflows DRAFT
Hi all,
Further to previous correspondence with Josh, attached is a draft memo on Receivership cashflows.
We can discuss on our call tomorrow at 3.30 but please revert if you have any questions in the interim.
Regards
Martin Burrows
Executive Director
Advisory | Restructuring
m +64 s 9(2)(a) p +64 9 919 7481
calibrepartners.co.nz
Notice: This email is intended solely for the use of the addressee and may contain information that is confidential or subject to legal professional privilege. If you receive this email in error please immediately
notify the sender and delete the email.
Out of Scope
From: Josh Hercus <[email address]>
Sent: Friday, February 2, 2024 8:06 AM
To: Martin Burrows <[email address]>
Cc: Robert Pigou <[email address]>; Murray Beatson <[email address]>; Shaun Brown <[email address]>;
Brendon Gibson <[email address]>
Subject: RE: Whakapapa only high-level 5 year analysis [IN-CON ENCE: RELEASE-EXTERNAL]
Hi Martin,
Out of Scope
Out of Scope
The Ministers are interested to know the level of ‘subsidy’ provided. It would be useful to understand:
a. How much value/ski time life pass holders received from last year’s ski season. Our understanding is that it was about $s 9(2)? In the October
accounts the non-cash Revenue attributed to LPH’s was $s 9(2)(b)(ii) but this is an accounting unwind of the balance sheet liability. It is better
to think of it in terms of the number of skier days the LPHs used. In 2023 they used 29,562 visitor days (12.9% of total FY23 skier days) which
would equate to about $
per skier day.
s 9(2)
b. What is the treatment of life pass holders in the figures below? Is it the same pricing that PTL is offering? s 9(2)(b)(ii), s 9(2)(j)
c. If the life pass holders were provided less concessionary terms, would that likely increase in the projected EBITDA below? s 9(2)(b)(ii), s 9(2)(j)
d. Out of Scope
Appreciate that some of the questions above might be tricky and happy to have a chat if that’s preferred. Will need some answers around Wednesday
next week.
Cheers,
Josh
Josh Hercus
PRINCIPAL ADVISOR TO ROBERT PIGOU, DEPUTY CHIEF EXECUTIVE and
HEAD OF KĀNOA - REGIONAL ECONOMIC DEVELOPMENT & INVESTMENT UNIT
[email address] | Mobile: +s 9(2)(a)
15 Stout Street, Wellington 6011, PO Box 1473, Wellington 6140
From: Martin Burrows <[email address]>
Sent: Friday, January 26, 2024 5:40 PM
To: Josh Hercus <[email address]>
Cc: Robert Pigou <[email address]>; Murray Beatson <[email address]>; Shaun Brown <[email address]>;
Brendon Gibson <[email address]>
Subject: Whakapapa only high-level 5 year analysis
Out of Scope
Out of Scope
The key assumptions in this attached forecast are:
Out of Scope
No LPH offer is assumed but some form of 1 year offer is likely based on a
discounted SP price. We would agree this with MBIE prior to launch.
Out of Scope
Out of Scope
Out of Scope
Out of Scope
Out of Scope
<[email address]>; Mark Reese ([email address]) <[email address]>;
[email address]; Ben Methven <[email address]>; Freddie Beaumont
<[email address]>; Shaun Brown <[email address]>
Subject: RAL - Draft Media release
Hi Josh,
Further to recent discussion, draft media release attached.
This would be released tomorrow morning, assuming settlement happens today.
Grateful for any comments please.
Thanks
Martin Burrows
Executive Director
Advisory | Restructuring
m +64 s 9(2)(a) p +64 9 919 7481
calibrepartners.co.nz
Notice: This email is intended solely for the use of the addressee and may contain information that is confidential or subject to legal professional privilege. If you receive this email in error please
immediately notify the sender and delete the email.
From:
Brendon Gibson
To:
Josh Hercus; Shaun Brown; Murray Beatson; Robert Pigou
Cc:
Martin Burrows; Neale Jackson; Michael Harper@chapmantripp com; Mark Reese; Freddie Beaumont; Ben Methven
Subject:
LPH emails and Media Release attached
Date:
Monday, 15 April 2024 8:49:08 am
Attachments:
LPH Email 12 April FINAL.pdf
FY24 pricing comms FINAL.pdf
FW Life pass holder update.msg
All,
For your information, please find attached final versions of Press release and LPH email sent on Friday.
We have received 140 emails by Saturday morning. It is fair to say the tone of many was disappointing but a few asked further questions about how we were able to charge
life pass holders so we sent a follow up email on Saturday night.
We will keep you updated as events develop.
Be good to lock in a phone catch up, say tomorrow afternoon. Josh/Shaun/Murray can you suggest some times?
Regards,
Brendon Gibson
Partner
Advisory | Restructuring
m +64 s 9(2)(a) p +64 9 307 7865 d +64 s 9(2)(a)
calibrepartners.co.nz
Notice: This email is intended solely for the use of the addressee and may contain information that is confidential or subject to legal professional privilege. If you receive this email in error please immediately
notify the sender and delete the email.
12 April 2024
Media release
Ruapehu Alpine Lift’s receivers announce
• settlement of the sale of the Tūroa skifield
• season pass pricing for Whakapapa for the 2024 season and
• launch of a sale process for Whakapapa
The receivers of Ruapehu Alpine Lifts (RAL), Brendon Gibson and Neale Jackson of Calibre Partners,
are pleased to confirm that settlement of the sale of the Tūroa ski field to Pure Tūroa Ltd occurred on
12 April 2024. This represents a significant milestone toward concluding a difficult process brought
about by the insolvency of RAL.
The receivers will now begin a process of seeking expressions of interest in acquiring the business
and assets of the Whakapapa ski field. They are looking to receive EOIs by the beginning of May.
Calibre Partners’ Brendon Gibson said “the sale process represents a unique opportunity to acquire
an iconic, diversified tourism business, with a year-round offering, attracting around 250,000 guests
each year.”
As previously signalled, with Crown support, RAL is preparing to run the 2024 ski season and early
next week will announce its 2024 Season Pass deals. For a limited time, the core Whakapapa
Anytime Season Pass wil be on sale for $649 for adults and $349 for youths and seniors. Season
Passes wil go on sale on Monday 15 April 2024 on whakapapa.com.
Brendon Gibson said “with this Tūroa sale milestone achieved, we continue working to secure a future
for Whakapapa. A key element of this process is demonstrating that Whakapapa can be as profitable
as possible. This season’s pricing reflects that intention but also reflects the difficult circumstances
created by the insolvency of RAL.”
For the 2024 season life pass holders are being offered a discount on a Season Pass but their
existing life pass will not give access to Whakapapa for the 2024 season. The receivers (who are in
control of the Whakapapa business) are offering life pass holders a 30% discount on all 2024 Season
Pass deals.
Brendon Gibson said “we acknowledge the difficult situation life pass holders have been left in
following RAL’s insolvency. The financial position and performance of the Whakapapa business is a
critical element of its ability to survive over the longer-term. Accordingly, revenue needs to be
generated from all mountain users.”
Commensurate with this change, from 28 April 2024 life pass holders will no longer have access to
the Sky Waka Gondola without a 2024 Pass or Sky Waka ticket.
The receivers and RAL’s management and staff appreciate the ongoing commitment and financial
contribution of all visitors to Whakapapa and look forward to welcoming them during the 2024 season.
[ENDS]
For all media inquiries, please contact:
Calibre Partners (09) 307 7865 or [email address]
Kia ora kōrua
The Receivers continue to work to secure a future for Whakapapa following this week’s sale of the
Tūroa ski field. A key element of this is demonstrating that Whakapapa will be able to generate
sustainable profits over the longer-term.
We acknowledge the difficult situation life pass holders have been left in following the insolvency of
Ruapehu Alpine Lifts (RAL). However, the financial position and performance of the Whakapapa
business is a critical element of its ability to survive over the longer-term. Accordingly, revenue needs
to be generated from all mountain users.
To this end, for the 2024 season, life pass holders will be offered a discount on season passes but
their life pass will not entitle them to use the Whakapapa ski field. The receivers of RAL (who are in
control of the Whakapapa business) are able to offer life pass holders a 30% discount on all 2024
season pass prices.
For example, through to 15 May 2024 life pass holders will be able to purchase:
• Adult anytime season passes for the discounted price of $449 per pass compared with the normal
price of $649 available to all other purchasers.
• Adult weekday season passes for the discounted price of $279 per pass compared with $399.
The 30% discount offer will also apply to Youth and Senior season passes but not to day passes.
More information on this offer and comparisons with other Whakapapa pass types can be found
at www.whakapapa.com from Monday 15th April.
Commensurate with this change, from 28 April 2024 life pass holders will no longer have access to
the Sky Waka Gondola without a 2024 pass or Sky Waka ticket.
As a life pass holder, you remain an unsecured creditor of Ruapehu Alpine Lifts. The liquidators are
the best people to contact if you have questions about your claim or the liquidation.
The season pass discount offer applies for the 2024 season only. Any applicable offers to life pass
holders for subsequent years will be a decision for the owners at the time.
We appreciate the ongoing commitment and financial contribution of life pass holders to Whakapapa
and look forward to welcoming you.
Ngā mihi
-----------------------------------------
Frequently Asked Questions
Am I still an RAL life pass holder? Yes, you are. You remain an unsecured creditor and you wil
receive any updates on this status directly from the receivers (Calibre Partners) or liquidators (PWC).
Wil I need to buy a Season Pass again in future years? The receivers are funded for the 2024
season, and therefore this offer is specific to 2024. Any future offers would be at the discretion of the
owners of Whakapapa at the relevant time.
Why could I ski using my pass without a fee last year and this summer? What has changed?
The decision to charge a fee this year has been made by the receivers. The receivers are working
towards securing a sustainable future for Whakapapa and have deemed this a necessary action to
take for 2024. The offer of a discounted 2024 season pass to life pass holders (30% off any season
pass) is their acknowledgment of the contribution of the life pass holders.
If I purchase a 2024 pass, can I use it at Tūroa? No. This offer is specific to Whakapapa. Pure
Tūroa has issued a separate offer for Tūroa which can be found on their website.
From:
Martin Burrows
To:
Amanda Lee
Cc:
Brendon Gibson; Neale Jackson
Subject:
FW: Life pass holder update
Date:
Saturday, 13 April 2024 5:18:34 pm
Hi Amanda,
Agreed email for distribution please.
It can just have the same heading as yesterday
Thanks
-----------------------------------
Kia ora,
Following our email of yesterday, several parties have requested further detail regarding
the legal position of life passes and RAL’s concession.
We provide further comment on these two points below.
Ngā mihi
What is the legal position in relation to my existing life pass?
The legal position is that when a company is in receivership, the receiver is not legally
obliged to perform the contracts that the company entered before the receivership. The
contractual counterparty is not able to legally require the receiver to perform the
contract and will have an unsecured claim in damages against the company for non-
performance of the contract. Those unsecured claims are submitted to the liquidator.
This means that an RAL life pass holder is unable to legally require the receivers to
perform RAL’s obligations under the life pass. The RAL life pass holder will have an
unsecured claim in damages against RAL for non-performance of the contract. The
voluntary administrator (PWC) has previously assessed the value of that unsecured
claim. RAL life pass holders voted the value of that unsecured claim in the watershed
meeting last year. RAL life pass holders’ damages claims can be submitted to the
liquidators (PWC).
What is the legal position in relation to the concession?
The insolvency of RAL and the appointment of receivers is grounds for the Department
of Conservation to terminate the concession. The Department of Conservation has not
terminated the Whakapapa concession. Accordingly, the receivers are able to utilise
the concession and RAL’s other assets. However, the receivers are not obliged to meet
RAL’s liabilities (being the obligations under the life passes).
----------------------------------------
