Developers flinch as Hotchin takes back Fiji property loan

Property developer Kevin Storey says his company Sky King Investments won't give up its Fiji land easily amid revelations former Hanover boss Mark Hotchin has secured a loan over it.

As reported in the National Business Review print edition today, Mr Hotchin’s associated company, HF Residual Obligations Ltd, has been assigned a loan on a Fiji resort development known as Pacific Point, near Suva.

HF Residual assumed the loan from Allied Farmers last September in a move that surprised Mr Storey and his business partner Brent Gibson.

 

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