Nido investors not told about $25m loan default, lawsuit claims
Big box homewares retailer depended on mezzanine finance and the lending breach should have been disclosed, activist alleges.
Nido collapsed in late 2020
Property syndicator Maat Consulting failed to tell investors it had defaulted on its lending in an “egregious” breach of financial markets law, it has been claimed.
But Maat has rejected the claims as being without merit and said they will be vigorously defended.
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