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

Sophie Boot
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...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Primary Sector
Another class action against A2, this time in Auckland
Rebecca Howard | Wed, 18 May 2022

The opt-in class action has been filed in the Auckland High Court and already includes one financial institution. 

Argosy's property income slips as portfolio's value rises
Jenny Ruth | Wed, 18 May 2022

Argosy will pay out more in dividends than adjusted funds from operations, as foreshadowed a year ago.

Primary Sector
Fed Farmers' Lewis stepping down after 17 years
Rebecca Howard | Wed, 18 May 2022

Federated Farmers board member Chris Lewis said it was time for change within the organisation.

Partner content
What’s driving the ram raids, and what shop owners can do

Scott La Franchie explains the motivations behind the spate of burglaries.

Partner content
Grow your business by taking time to plan

Getting business fundamentals right gives the best chance at beating the unplannable.