No joy for Stonewood creditors in $3.5m settlement

No joy for Stonewood creditors in $3.5m settlement
Former directors Jim Boult (pictured) and Brent Mettrick didn't admit liability in making the deal. (Image: supplied)
Paul McBeth
Dozens of suppliers and subcontractors owed millions by the old Stonewood Homes will get some vindication – if not compensation – from the $3.5 million extracted from the building company’s former directors.Queenstown Lakes mayor Jim Boult and Stonewood founder Brent Mettrick cut the deal with liquidator Rhys Cain of EY earlier this year, ending his pursuit of $25.5m in damages over claims they breached their director duties.Cain noted the settlement in his October report on related company Holmfirth Group and provided more de...

More Property

Leighs opts out of Scott Base build
Infrastructure

Leighs opts out of Scott Base build

The Antarctic contractor is focused on offices, healthcare and apartments.

Oliver Lewis 09 May 2025
Two housing projects snare first fast-track panels
Policy

Two housing projects snare first fast-track panels

Applications opened on Feb 7. Now we have our first panels.

Oliver Lewis 08 May 2025
NZ Super Fund, Russell, Lockwood want to sell $600m+ hotel portfolio
Property

NZ Super Fund, Russell, Lockwood want to sell $600m+ hotel portfolio

The Adina Apartment Hotel Auckland is one of seven properties for sale.

Staff reporters 07 May 2025
Property flipping 'pushing up prices': Valuer
Property

Property flipping 'pushing up prices': Valuer

Rapid trading, sometimes on the same day, is hurting low-income buyers, valuer says.

Maria Slade 07 May 2025