Albany junk bond failure a warning to off-shore investors

The loss of $9 million of off-shore funds in a failed Auckland property development tarnishes New Zealand's image as a safe investment destination, a top commercial property agent says.

Investors in Albany Heights Villas – owned by controversial developer Chris Cook – have been told by the liquidators there is little chance they will get any money back.


Want to read more?

Choose a Subscription type that's right for you HERE
Already have an account? Login