Wallace Real Estate chief executive Luke Nutting said he took the tax authorities’ allegations “extremely seriously” and was “disappointed” to only recently learn the “severity of the situation”. Real estate agents in a liquidated firm are entitled to seek work with another business. By then, the Hills Real Estate website had been taken down. One former Hills staff member had taken over 10 for-sale listings that previously been under Prakash and Prasad’s names on the site. “Wallace has not acquired, absorbed, or entered into any formal takeover arrangement with Hills Real Estate,” he said.

Source: New Zealand Herald February 15, 2026 19:02 UTC