Legal advice failure leads to hefty OIO fine
The regulator investigated after an anonymous tip.
Andrew Bevin
Wed, 10 Jun 2020
Offshore investors who bought an Auckland property without Overseas Investment Office approval have been fined more than $540,000 following a High Court ruling.
Bingyan Zhou and Xirong Zhou originally bought the property at 64 Derbyshire Lane, Karaka, for $2.55 million in 2013.
In 2016, they
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Andrew Bevin
Wed, 10 Jun 2020
Contact the Writer: andrew@nbr.co.nz
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Legal advice failure leads to hefty OIO fine
Property,
83905