Developer ordered to pay deposit

Developer ordered to pay deposit – or else

A Christchurch developer, Riccarton Construction, has been ordered to come up with a $3 million deposit or face liquidation.Riccarton planned to buy a motor lodge from Coljon Ltd for $6.7 million. The contract, struck in May 2009, had an 11 month delayed

Chris Hutching
Wed, 07 Apr 2010

A Christchurch developer, Riccarton Construction, has been ordered to come up with a $3 million deposit or face liquidation.

Riccarton planned to buy a motor lodge from Coljon Ltd for $6.7 million. The contract, struck in May 2009, had an 11 month delayed settlement period. It also stipulated that a

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