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Hot Topic NBR Focus: GMO
Hot Topic NBR Focus: GMO
Business
10 mins to read

Kiwi company fined for buying on behalf of overseas investor

The $175,000 penalty is the first issued against an associate of a foreign buyer.

Andrew Bevin Thu, 22 Jul 2021

An intermediary property buyer has been stung with a $175,000 bill for failing to seek approval for purchasing an asset in the first case of its kind.

In a prosecution brought by the Overseas Investment Office, Auckland High Court Justice Sarah Katz ordered Clevedon Kawakawa Road Ltd (CKRL) to

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Andrew Bevin Thu, 22 Jul 2021
Contact the Writer: andrew@nbr.co.nz
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Kiwi company fined for buying on behalf of overseas investor
Business,
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