Albany property developer Kingston stung in Appeal Court over lawyer's silence

Mon, 05 Sep 2016

By Sophie Boot Sept. 5 (BusinessDesk) - Kingston Developments Group will miss out on a $7 million profit from an Albany project after the Official Assignee (OA) successfully argued in the Court of Appeal that the developer's lawyer failed to reveal plans to discharge a mortgage on the property that would have allowed settlement. Kingston bought the piece of land in Albany, north of Auckland, in November 2014 for $16.7 million, financed with a $14 million mortgage, from a company called BC Corporate Administration, a company previously ass...

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