A $10 million pinot noir winery near Cromwell, in receivership since September 2008, has been bought by Marlborough-based winemaker Ant Moore.
Central Otago Vintners Ltd, near Cromwell, owed about $8 million to creditors when it went into receivership.
In May, Mr Moore leased the winery from receivers to process a 2009 vintage, and had since been negotiating sale conditions.
Receiver Duncan Fea, of WHK Cook Adam Ward Wilson, said Mr Moore bought all known assets including the land, winery plant, buildings, wine, and equipment, and secured lenders would receive sale proceeds.
Mr Fea would not say how much Mr Moore paid for the complex, but said the amount was not enough to completely reimburse secured lenders, let alone unsecured creditors.
"Effectively, the sale ends our involvement, once we've tidied it all up and done our final report, which will be after Christmas. We are happy with the timeframe."
