Its lender is being ‘difficult’ but it is optimistic funds will come through, the property group’s CEO tells unpaid contractors.
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.
Letter to property syndicate shareholders urges attendance at annual meetings next week.
Cambridge family who suffered loss speaks out after NBR’s report on failed Stonewood franchisee.
Controversial development finally nixed after high-profile opponents buy land to develop it into an arts and recreation space.