P. Dines move
PA New Plymouth Perry Dines Corp, Ltd, S2M building in New Plymouth is to be auctioned. The auctioneer, Mr David Jennings, said the six-level building would be auctioned on March 21 on behalf of the first mortgagee, New Zealand Insurance Life, Ltd. Only part of the third floor was now occupied. The top two floors had been used by Perry Dines before it went into receivership in August Mr Jennings believed
the building would cost more than S2M to replace. The receiver from the accountancy firm of Coopers and Lybrand of Wellington, Mr Tolmie Scoular, said the building had been passed back to the first mortgagee. “We believe that it’s overcharged and we would not get anything out of it anyway,” he said. “As such they (NZI Life) have issued a property law notice saying that if the owners don’t pay they will take possession of the building.”
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Press, 28 January 1986, Page 22
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151P. Dines move Press, 28 January 1986, Page 22
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