Property syndicator GEK Property looks to cash out at a $12 million premium to its purchase price eight years ago.
Former ‘The Apprentice New Zealand’ boss’s Century City Hotel property went into receivership in March.
Unsecured creditors are owed $21m on the large South Auckland housing development.
The first liquidators report says it's unlikely unsecured creditors, who were owed nearly $5m, will be paid in full.
Construction company failed due to inflation pressures, skill shortages, adverse weather.
Andrew Griffiths unveiled the new development one week after his investment vehicle was placed into liquidation.
The latest data from Centrix indicates 18,900 home loan accounts were in arrears.
One project has four lenders, including a fellow Du Val development entity.
The day Uptown Holdings went into liquidation, its director incorporated a new company with a similar name.
Mortgagee sale for 201 Hobson Street, of FE Investments and Basset 43 infamy, was withdrawn this week after a previous purchaser appeared.