The Treasure Plus group collapsed leaving multiple projects at various stages.
The Home Bakery plans 85-home development in Hamilton but it needs more scale, says former NBR Lister.
Auckland director Lin Fang’s 12 property companies have all failed this year, with high intercompany loans.
Retirement village operators are increasingly targeting the luxe end of the market and its demanding clientele as a lucrative growth sector.
A 28-day interim order was being sought to try and save Auckland properties.
The building at 51-53 Shortland Street had a rateable value of $70m in 2021.
Financier Vincent Capital has called in its lending to the Treasure Plus group.
A 28-day interim order is being sought in the High Court.
The director of both companies, Cheng Tih Lee, has been referred to MBIE by Gerry Rea Partners.
Christchurch industrial property revalued downwards four months after acquisition.