Nikki Connors’ firm found to have misled property investor

Nikki Connors. (Image: Supplied)

Tue, 24 Dec 2024

Tue, 24 Dec 2024

Propellor Property Investments Limited (PPIL) has been ordered to pay a couple $136,671 in compensation for misleading them about the potential capital growth of a recommended property investment.The decision was made in November before founder Nikki Connors last week announced she was retiring “due to the mental and physical toll of recent years”.A preliminary ruling was made against PPIL in July 2024 and it was upheld on November 12.According to the initial ruling from financial ombudsman Susan Taylor of Financial Services Co...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

World

Chinese manufacturers speed up Trump tariffs dodge

Plans accelerate for some businesses to shift production to Southeast Asia.

The Wall Street Journal 10:00am

Markets

NZME financial results: $54.2m in earnings

NZ Herald and BusinessDesk publisher NZME posted earnings of $54.2 million on Wednesday and a post-tax loss of $16m after a non-cash impairment of intangible assets – and says it is considering separating its property brand OneRoof into an entirely new business.The company also s...

Staff reporters 9:50am