Member log in

Perron Group

Perron disaster a write off for Allied Farmers

New twist to Perron Group saga

Perron Group insolvency scheme benefits to directors questioned

The insolvency scheme proposed by failed Perron Group directors Cameron Marsh and Mark Perriam gives them significant benefits but creditors are still in the dark about how much returns they will receive.

The developer duo owes more than $142 million, and has presented an insolvency scheme that would see them make a one-off $123,000 payment then each retain the first $80,000 of any income earned as a base salary.

Commonwealth Bank of Australia rejected the payment scheme and tried to bankrupt the developers. The matter is now going through the High Court.

Financial fate of Auckland developer duo up in the air