Ngunguru Sandspit Protection Society
Main Menu
All items
Key Resources
Articles by Topic
Other Coastlines
Human Interest
Photo Gallery
Contact / Donate / Join
Comment Page
Sandspit Prints
Secure Login Form

Lost Password?
No account yet? Register
Verse of The Day
“Ka mea a Ihu ki a ia, Kia whakapaua tou ngakau, tou wairua, tou hinengaro, ki te aroha ki te Ariki, ki tou Atua. Ko te tuatahi tenei, ko te kupu nui. He rite ano te tuarua ki tenei, Kia aroha koe ki tou hoa tata, ano ko koe.” (Matthew 22:37-39)

Powered by
Recent popular items
Tutukaka Coast promo
Home arrow Articles by Topic arrow LandCo arrow Greg Olliver battles St Laurence to avoid bankruptcy
Greg Olliver battles St Laurence to avoid bankruptcy PDF Print
User Rating: / 7
Articles - LandCo
Written by Sarah McDonald, National Business Review   
Thursday, 07 May 2009

The proceedings also canvassed the events of July last year, when Mr Olliver gave up his half-share in property development company Landco, to the Todd family.

At that stage, two of his trusts were in default to their lenders.

“The Todds were effectively holding a gun to your head, were they not, to take the Landco assets from you?” Mr Dewar asked.

“That would be correct,” Mr Olliver replied.

Property developer Greg Olliver and lawyers for financier St Laurence are battling it out in Auckland’s High Court as Mr Olliver seeks to avoid bankruptcy.

Mr Olliver, who owes $90 million, has won approval from a majority of his creditors for a proposal offered as an alternative to Mr Olliver being bankrupted.

Now it's in the hands of Associate Judge John Faire, who has the power to veto the scheme.

St Laurence, owed $6.5 million, is opposing the arrangement and is crying foul over a deal in which the $7 million Olliver family mansion, against which it held security, ended up being on-sold to entities associated with Mr Olliver’s wife Sarah.

Full story...

Add as favourites (167) | Quote this article on your site | Views: 2785

Be first to comment this article

Only registered users can write comments.
Please login or register.

Powered by AkoComment Tweaked Special Edition v.1.4.6
AkoComment © Copyright 2004 by Arthur Konze -
All right reserved

Last Updated ( Thursday, 07 May 2009 )
< Prev   Next >


© 2018 Ngunguru Sandspit Protection Society
Joomla! is Free Software released under the GNU/GPL License.