After debt covenant breaches, a forced capital raise, and halted dividends, investors in a Christchurch property are being offered a new management deal.
SkyCity's convention centre was previously required to be finished by 2021.
Change expected later this year, but not tomorrow's OCR announcement.
The property company is awaiting the outcome of interest deductibility rules before making a move.
Both developers and industry bodies call for clarity and definition of the growing asset class.
The private lender sees significant potential in bank-reliant New Zealand.
One petitioner admitted the move was most likely pointless as the government had made up its mind.
New owner has laid a complaint with police.
The company is raising the capital through a placement and rights issue.
The industry wants more certainty from government agencies about the volume of work.