The Bank of New Zealand has appointed receivers over the assets of two George Kerr-controlled companies.Galt Nominees and Glencoe Land Joint Ventures are themselves not in receivership but the bank is exercising its right to proceeds of the substantial land holdings it has mortgages over.Galt owns approximately 60 hectares near Whangapoua in the Coromandel and the receivers have been appointed to income deriving from that land. Glencoe Land owns 60 hectares of land at Crown Terrace in Arrowtown, and the receivers now have control of that l...
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