Public Trust takes over bid to bankrupt ex-Rich Lister

Former NBR Rich Lister Michael Tololi has been given a month's reprieve from bankruptcy proceedings after the company chasing him withdrew its bid.Dominion Finance Holdings subsidiary North South Finance has withdrawn its application to bankrupt Mr Tololi, who has interests in property and bloodstock and was valued at $28 million on the 2006 NBR Rich List.But the Karaka-based businessman now faces a fresh challenge from Public Trust, which has taken over North South Finance's bankruptcy bid against him.

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