Court finds developer misled Hong Kong lender over Epsom Central apartments

Court finds developer misled Hong Kong lender over Epsom Central apartments
The building in Auckland's Epsom was half-completed. (Image: Colliers)
Riley Kennedy
A Hong Kong investment company has gone to court alleging elusive property developer Shane Zhou was misleading after it lent his Sky Stone Group roughly $4.7 million for its abandoned apartments.Zhou, who also went by the name Xin, was behind the six-storey apartment development in the Auckland suburb of Epsom, which sat abandoned for nearly four years until receivers were appointed and a mortgagee sale was conducted last year.As BusinessDesk previously reported, Epsom Central Apartments LP (ECAL) was set up to run the development with Sky Ston...

More Law & Regulation

Quake-prone buildings regulatory shake-up to net $8.2b savings
Infrastructure

Quake-prone buildings regulatory shake-up to net $8.2b savings

Tweaks to quake-prone building rules to give fairer, risk-based system and drive savings.

Industry pleads for action on 'outdated' Standards NZ
Law & Regulation

Industry pleads for action on 'outdated' Standards NZ

New Zealand's standards framework is facing collapse, business groups say.

Maria Slade 26 Sep 2025
Gas exploration application hours after ban repealed
Law & Regulation

Gas exploration application hours after ban repealed

Minister Shane Jones would not name the applicant or the area the permit covers.

Ian Llewellyn 25 Sep 2025
Rich listers’ rescue of Ubco: Sale price revealed
Law & Regulation

Rich listers’ rescue of Ubco: Sale price revealed

Three rich-list families, plus the multinational Jubilee Investments, paid $5 million for Ubco, the latest receivers’ report reveals.“The transaction included the transfer of shares in Ubco subsidiaries, intellectual property, goodwill, plant and equipment, stock, and certain con...

Staff reporters 25 Sep 2025