*Name correction: Graham Crombie.
Mr Crombie is the chairman of Dunedin City Holdings Ltd (DCHL). Grady Cameron is Delta’s chief executive. -Eds
Sally Lindsay writes on the Delta fiasco at NBR today: ‘Christchurch development still entangled in litigation despite sale’ (pages 3 & 7).
“The sale is not deterring neighbours Colin Stokes and Gregory Smith from court action and Mr Stokes says Delta and Gold Band Finance have been joined to the proceedings originally launched against developer Noble Investments over a breach of contract. […] The litigants are claiming the value of 13 sections on their land had it been able to be subdivided. Mr Stokes says the sections would be conservatively valued at $200,000 each and the [action] also includes a claim for damages because of the holdups to their project, which they expected to launch in 2008. […] Mr Stokes is expecting the court case to be heard within the next year.”
Posted by Elizabeth Kerr
Election Year. This post is offered in the public interest.
Filed under Business, Construction, DCC, DCHL, DCTL, Delta, Democracy, Design, District Plan, Economics, Finance, Geography, Housing, Infrastructure, Media, Name, New Zealand, OAG, Ombudsman, People, Politics, Project management, Property, Public interest, Resource management, Site, Town planning, Transportation, Urban design
Tagged as Apple Fields Ltd, Auditor-General, Bad debts, BNZ, Board of Directors, Caveators, CCC, CCOs, Christchurch, Christchurch City Council, Constructive fraud, DCC, DCHL, DCTL, Delta, Delta Annual Reports, Delta board of directors, Delta Utility Services Ltd, Directors, Dunedin City Council, Dunedin City Holdings Ltd, First mortgages, Forced sale, Gold Band Finance, Infinity Investment Group Holdings Ltd, Infinity Yaldhurst Ltd, Infrastructure services, Investments, Land deals, Mortgagee sale, Mortgages, NBR, NIL, No guarantee, No security, Noble, Noble Investments Ltd, Noble subdivision, Noble Village Subdivision, Project management, Property investment, Property speculation, Security, Security Sharing agreement, Stormwater discharge, Stormwater systems, Subdivisions, Yaldhurst Road, Yaldhurst subdivision, Yaldhurst Village