Pearlfisher Capital wins legal dispute over statutory demand

Pearlfisher Capital wins legal dispute over statutory demand
The property is at 221 Jesmond Road, Karaka. (Image: OneRoof)
Riley Kennedy
Pearlfisher Capital has won a legal dispute over a statutory demand it served on a borrower it was meant to lend to for a South Auckland property deal.In late 2021, Mega Capital entered into a $19.8 million deal to buy a property in Karaka, Auckland, to develop it. It failed to settle on June 15, 2022, because it was $13m short after it paid $7m in deposits to the vendor.After that, penalty interest started to accrue at about $10,000 per day.Couldn’t get fundingMega Capital – which according to the Companies Office is owned by...

More Law & Regulation

Regulator remains ‘in the dark’ about Du Val founders’ finances
Property

Regulator remains ‘in the dark’ about Du Val founders’ finances

FMA and receivers don’t even know how the Clarkes are funding themselves, court hears.

Court to decide Du Val asset seizure orders
Property

Court to decide Du Val asset seizure orders

Charlotte and Kenyon Clarke will get to have their say ten months on.

Maria Slade 16 Jun 2025
EPA tips firm on fast-track list into liquidation
Policy

EPA tips firm on fast-track list into liquidation

Energy Farms changed its name the same day it was liquidated.

Gregor Thompson 13 Jun 2025
The pragmatism behind the WorkSafe reforms
Law & Regulation

Mike Mercer: The pragmatism behind the WorkSafe reforms

The greatest risk right now is not the reform itself, but how it is being received.

Mike Mercer 13 Jun 2025