Pegasus Town development, sections sell for $68.8M, receiver says

Tue, 23 Apr 2013

By Paul McBeth April 24 (BusinessDesk) - The North Canterbury Pegasus Town property development and its sections sold for $68.8 million, leaving unsecured creditors, who were largely related parties, out in the cold, according to the latest receiver's report. The Todd Property Group bought the development in December last year, saying it expected to complete the town by 2015, though it's unclear whether the sections sold were part of the deal. The price wasn’t disclosed at the time. Receivers David Ruscoe and Richard Simpson of Grant Thornt...

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