Kerr backs down on trying to stop mortgagee sales

The BNZ is owed $36m by another of Kerr's companies, which missed its repayments.

Mon, 10 May 2021

George Kerr’s Galt Nominees and Glencoe Land (Joint Venture) entities backed down seeking injunctions against the Bank of New Zealand (BNZ) over the default of a related vehicle on a $36 million loan.BNZ appointed Neale Jackson and Natalie Burrett of Calibre Partners to act as receivers for the land owned by Galt and Glencoe, which had both guaranteed payments of a loan to another Kerr entity, Lothian Partners Capital.Galt and Glencoe initially sought injunctions to block the bank from issuing notices but withdrew their applications on Ma...

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