Damien Grant 'stacked creditor vote', US lender claims

Ormiston Rise is a development of 730 homes in Flat Bush, a suburb in southeast Auckland. (Image: Jason Oxenham)

Wed, 23 Apr 2025

An American financier told the High Court that controversial insolvency practitioner Damien Grant was a "friendly liquidator" who stacked a creditor vote and should be replaced.Arena Alceon NZ, the New York-based lender behind the large South Auckland housing project Ormiston Rise, wants Grant and his Waterstone Insolvency colleague sacked in favour of the Official Assignee, claiming they failed to act impartially and competently.Waterstone was appointed liquidator of Ormiston Rise Limited (ORL) and its project subsidiary in lat...

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