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Hot Topic Hawke’s Bay
Hot Topic Hawke’s Bay
General Business
4 mins to read

Liquidators’ powers ‘don’t apply to US investor’, court told

Ormiston Rise’s New York backer says it’s exempt from New Zealand law.

Maria Slade Thu, 24 Mar 2022

A law saying shareholders of a failed company must hand over documents to the liquidator does not apply to overseas parties, New York financier Arena Investors has told the High Court.

Arena was the major backer of the troubled South Auckland housing development Ormiston Rise and a 19.5%

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Liquidators’ powers ‘don’t apply to US investor’, court told
General Business,
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