Gems-for-land dispute settled out of court
PA Hamilton The parties to a million dollar gems-for-land deal being heard in the- High Court at Hamilton this week settled out of court. Australian currency and gemstones were part of a contract for a deal made with the purchasers of a Te Rapa property, owned by Mr Ira Tipping. One of the original purchasers of,the property, Mr P. T. Hogan, wanted the second mortgage on the property declared invalid as well as the- Minister of
Finance’s consent to- the deal. Mr Hogan and his former partner, Mr M. P. Sullivan, signed a contract for the deal after being approached by an Eastside real estate agent, Mr R. D. Tracey and a real estate salesman, Mr B. Waters. After the contract was signed, Mr Tipping’s solicitor, Mr R. Annan, was successful in gaining consent to the deal from the Minister of Finance, Mr Muldoon. The terms of the settlement were not known.
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Press, 19 November 1982, Page 9
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158Gems-for-land dispute settled out of court Press, 19 November 1982, Page 9
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