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Law
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Sham loan trumps statutory demand, judge rules

Attempt to recover money in failed investor visa scheme stymied by fake transaction.

Taihe Innovation Management sole director Lei 'Andy' Zhang.

Tim Hunter Wed, 26 Apr 2023

A loan agreement designed to conceal ownership of shares in a listed company may have been a sham, the High Court has ruled, so a statutory demand for repayment must be set aside.

The case involving two companies, Taihe Innovation Management and Maryland Bassett, relates to efforts by unsuccessful

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Tim Hunter Wed, 26 Apr 2023
Contact the Writer: thunter@nbr.co.nz
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Sham loan trumps statutory demand, judge rules
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