- T L P LIMITED | CIV 2016-404-2925
- SDB BUILDERS LIMITED | CIV 2016-404-3016
- SMART COMPUTER TECHNOLOGY LIMITED | CIV 2016-404-2893
- FOUNDATION FARMS LIMITED | CIV 2016-488-145
- BAY BRICK & BLOCKLAYING LIMITED | CIV 2016-470-186
- JALON HOMES LIMITED | CIV 2016-404-3141
- LEVIN BOBCATS LIMITED | CIV 2016-454-100
- ATTRACTUM LIMITED | CIV 2016-470-146
- DU PLESSIS TILING LIMITED | CIV 2016-419-393
- WOOD SCENE LIMITED | CIV 2016-470-164
$46m appeal win over Queenstown build
Asian investors who refused to settle on Queenstown apartments during the global financial crisis have won a landmark $46 million case.
A Court of Appeal decision, centred on the Kawarau Falls hotels site, has overturned a High Court decision which stung investors for $36m in damages and $10m in deposits.
Appeal Court judges found investors' contracts had been breached because the rest of the development wasn't built.
The investors' lawyer says the decision will help rebuild New Zealand's reputation with Singaporean investors.
Wealthy Singaporeans and Malaysians agreed to buy 111 luxury apartments off-the-plans in buildings at Kawarau Falls.
But the GFC hit, crashing developer Nigel McKenna's ambitious plans for a $2 billion "world-class village resort".
Read the full article online > Otago Daily Times - odt.co.nz