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Home arrow Articles by Topic arrow LandCo arrow Landco lenders face nervous wait
Landco lenders face nervous wait PDF Print
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Articles - LandCo
Written by National Business Review   
Friday, 04 July 2008

Lenders to Landco, one of the country's largest property development companies, half owned by the Todd family -- the country's wealthiest family -- could be left high and dry, according to the National Business Review today.

The company was put up for sale in November, with holdings then valued at over $1 billion, including 50ha at a Mt Wellington, Auckland quarry, a 178ha site in Long Bay, and a 268ha vineyard, Marlborough Bankhouse, in Waihopai Valley.

NBR said it understood if no sale proceeds, other options were Greg Olliver selling his 50.5 percent stake to the Todds, or the company being put into receivership.

Landco spokesman Dennis Lynch dismissed the possibility of receivership.

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