The sale of the 257-hectare Arcadia Station, at Paradise, can’t be settled due to a caveat on the land. Photo: Scene filesAn Auckland company is suing an 83-year-old for $1.5 million in default interest over the blocked purchase of his farm near Glenorchy. In March last year, The Station at Waitiri Ltd committed to buy Jim Veint’s Arcadia Station at Paradise - renowned as the setting for films like The Lord of the Rings - for $14 million. Photo: Scene filesIt’s also ordering Veint pay default interest, at the rate of $4592.02 a day, from that last date "until settlement". I’ve been told [The Station at Waitiri’s default interest claim] is not enforceable."

Source: Otago Daily Times November 26, 2021 14:05 UTC