However, Justice Becroft judged him a sophisticated and intelligent businessman overseeing investments in Taiwan, Canada, France and other countries. A 2015 business arrangement marked a point of no return in which the parties were financially locked together, Justice Becroft said. The debt owed to lenders Lambton Quay - which had by this stage taken over BNZ’s lending stake - now amounted to about $54m. The sale allowed Lambton Quay to recover an immediate $20m and the chance to be repaid more later. And so the threat of debt enforcement could be used in the negotiation, Justice Becroft said.

Source: New Zealand Herald January 07, 2026 07:25 UTC