‘Sham’ loan claim as receivers chase $5m for would-be immigrants
High Court hears transaction was set up to conceal ownership of shares in Australian listed company.
High Court hears transaction was set up to conceal ownership of shares in Australian listed company.
An unusual tale of woe unfolded at the High Court in Auckland on Tuesday morning, involving $5 million paid by Chinese investors seeking New Zealand residency, an allegedly sham loan and efforts to disguise ownership of shares in an Australian listed company.
The hearing followed the receivership in
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