Tak Development is owned by the giant Japanese Takenaka Corporation.
Receivers still unsure what funds will be available for unsecured creditors.
Judith Collins says the housing minister "needs to come clean."
Property availability in Gisborne is the tightest since records began.
The property market usually dips over the holiday period, but the regions hardly noticed.
All-time high asking prices in some regions reflect lowest level of houses for sale.
The sector is expected to stay strong as new builds hit the market.
The Herberts control more than 18ha of prime waterfront real estate in Auckland as well as 1590 marina berths.
Insolvency expert explains the economics of failure during a boom.
Miles Construction signs deal for 16-unit apartment block.