House Prices

Property problems: Unwanted transaction: where do you turn?

Q. I own shares in a property investment company. The investment has returned good dividends and I was very happy with how the company was run.

Recently, the company has made a key decision that I have opposed. In particular, it has agreed to sell its largest property.

The property has been showing good rental returns and increasing in capital value. I believe the

Sunday, April 04th 2004

sale price to be less than it could have been and that the company would be much better placed holding on to the property.

I have recently discovered that the purchaser company is part-owned by a trust associated with the directors of the company I have invested in. This was not disclosed in the company's interests register.

The sale is yet to go through. I am worried that the value of my investment will be adversely affected by the sale.

What can I do?

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SBS FirstHome Combo	6.74
Heartland Bank - Online	6.89
Wairarapa Building Society	6.95
Unity	6.99
Co-operative Bank - First Home Special	7.04
ICBC	7.05
China Construction Bank	7.09
BNZ - Classic	7.24
ASB Bank	7.24
ANZ Special	7.24
TSB Special	7.24

Unity First Home Buyer special	6.45
Heartland Bank - Online	6.55
SBS Bank Special	6.69
TSB Special	6.75
Westpac Special	6.75
China Construction Bank	6.75
ICBC	6.75
AIA - Go Home Loans	6.75
ASB Bank	6.75
Unity	6.79
Co-operative Bank - Owner Occ	6.79

SBS Bank Special	6.19
ASB Bank	6.39
Westpac Special	6.39
AIA - Go Home Loans	6.39
China Construction Bank	6.40
ICBC	6.49
Kiwibank Special	6.55
BNZ - Classic	6.55
Co-operative Bank - Owner Occ	6.55
TSB Special	6.59
SBS Bank	6.79

SBS FirstHome Combo	6.19
AIA - Back My Build	6.19
ANZ Blueprint to Build	7.39
Credit Union Auckland	7.70
ICBC	7.85
Heartland Bank - Online	7.99
Pepper Money Essential	8.29
Co-operative Bank - Owner Occ	8.40
Co-operative Bank - Standard	8.40
First Credit Union Standard	8.50
Kiwibank	8.50