The future of some of Southern Cross Forest Products' assets will be decided today.
A deadline treaty sale for the company's sites in Mosgiel, Balclutha and Milton closes at 4pm.
About 100 Otago Southern Cross staff were laid off progressively from mid-June after receiver KordaMentha failed to sell four Otago Southern Cross sites as a going concern.
KordaMentha partner Neale Jackson said the Southern Cross plant and equipment had been sold, and the land and buildings were all that remained.
Mr Jackson said he could not comment on how much money had been repaid to creditors so far.
Southern Cross owed ANZ $39 million and UDC Finance Ltd $7.2 million.
The sale of Southern Cross' Milburn sawmill and Millstream's drymill assets to Pan Pac Forest Products was still under the consideration of the Overseas Investment Office (OIO), he said.
Pan Pac required OIO approval because the Hawkes Bay company is owned by Oji Holdings Corporation, of Japan.
Land Information New Zealand Crown property acting deputy chief executive Annelies McClure said Pan Pac's application was still being processed.
It was not clear when a decision would be made, she said.
Pan Pac announced its intention in July, hoping to create 30 jobs at the sites.
About 400 people were employed by Southern Cross, most of them in Otago, when it went into receivership in March.
