Ridge property company goes under
Sunday 4 April 2004
A property development company controlled by Matthew Ridge has gone under at the behest of its shareholders but the television personality claims he is owed the most money from the wind-up.
By The Landlord
"I'm no dodgy businessman," said Ridge, explaining that he had tried to save the company by injecting large amounts of cash into it.M3, which owned and developed a $3.8 million apartment site at 115 Remuera Rd, went into voluntary liquidation last Thursday, superseding a Christchurch creditor's claim for $40,000 over materials supplied to the eight luxury townhouses.
M3 creditor Tony Kiesanowski, a consultant to Christchurch law firm Young Hunter, said yesterday that he had applied to the High Court to withdraw his action to wind up M3, a matter due to go before the courts yesterday, because the company had gone into voluntary liquidation.
Read More - Opens in a new window
Commenting is closed
House Prices
No stopping Capital price rises
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Commercial
NZ proptech start-up scores major investor
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
Mortgages
LVR limits slow down investors
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.
