Buyer pays dearly for cancelling property contract

The Supreme Court has put an end to Cromwell land stoush that has been going through the legal system since a property deal collapsed in 2008.Queenstown-based Chris James' company James Developments bought a 4.71ha Cromwell section from Mana Property Trustee in 2008, paying a deposit of $450,000.When title was issued it showed the section to be only 4.69ha. James Developments cancelled its purchase agreement in November 2008 then went into liquidation July 2009.

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