FMA gets clarification of investor eligibility for wholesale offers – but not quite the clarification it wanted.
Director Zhongyang Meng and accountant Jiashun Qian had accepted FMA allegations.
The hotel developers succeeded in keeping the contractor on the Companies Register.
The sale price for the luxury resort in Taupō had not been disclosed.
Claim follows losses of $80m for investors.
Ads incorrectly claimed its investors could retire with up to 20% more than average KiwiSaver.
Liquidators' evidence in Mainzeal Supreme Court case begins.
Ruling follows settlement with creditor and shareholder.
Directors' duties case of a generation began in the Supreme Court this morning.
Property developer says it wasn’t aware cladding was from China until it had nearly completed four houses.