Monthly Archives: June 2011

The Unit Titles Act 2010

Posted on June 21, 2011 by Ivan McIntosh

Just a quick note that the Unit Titles Act 2010 came into force yesterday, and will be the subject of a few posts over the next month or two, particularly regarding sinking fund provisions, which are the changes most likely … Continue reading →

Posted in Property Law, Residential property, Subdivisions, Unit Titles | Tagged , , , , , , , | Leave a comment

Ngati Whatua Ground Rent Armageddon draws closer

Posted on June 17, 2011 by Ivan McIntosh

Hundreds of leasehold apartment owners in downtown Auckland are gearing up for a legal fight with the Ngati Whatua o Orakei Maori Trust Board over the amount of ground rent they have to start paying from August, says the Sunday … Continue reading →

Posted in Banking & Finance, Business Law, Leases & Leasehold, Property Law, Residential property, Subdivisions, Unit Titles | Tagged , , , , , | 1 Comment

Financial Markets Authority shuts down Geneva Finance from raising funds

Posted on June 16, 2011 by Ivan McIntosh

Temporarily, anyway. Turns out Geneva haven’t disclosed in their latest prospectus that they are in breach of their banking covenants, such that the bank could at any time require to repay everything they owe.   Which they wouldn’t be able to … Continue reading →

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Why does a penalty rate matter?

Posted on June 7, 2011 by Ivan McIntosh

In conversation over the weekend, some people asked why I was making a big deal about the ANZ penalty rate of 26-27% (more if interest rates rise, less if they fall).  After all, they’re not planning to miss any payments, … Continue reading →

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Beware ANZ Commercial Property Loans (the sting in the penalty rate tail)

Posted on June 2, 2011 by Ivan McIntosh

Just a heads up to the commercial property borrowers out there……we have just received a bunch of ANZ loan documents on a 2/3 loan to value ratio tenanted commercial property where the penalty rate on late payment is between: TWENTY … Continue reading →

Posted in Banking & Finance, Business Law, Construction Law, Property Law, Subdivisions, Unit Titles | Tagged , , , , , , , , | 1 Comment