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Lion Rock development

Birnie looks ahead to next year's trial

Auckland businessman and former investment banker Bill Birnie abandoned his bid to stop a $19m damages claim case against him yesterday.

Birnie Capital Property Partnership shareholders Allen Peters and Bernard Quinn allege that Mr Birnie and fellow director Stephen Norrie breached fiduciary duty by failing to exercise a put option to cancel BCPP’s $19m purchase of the Lion Rock development in the Bay of Islands.