Police were called by mall security staff shortly before 2pm, after they were approached by a male about the alleged incident, Acting Senior Sergeant Tania Baron said.
The parties were known to each other, and the altercation was "over an outstanding debt", she said.
A 20-year-old unemployed Christchurch man was escorted from the building and charged with threatening behaviour. He is expected to appear in the Dunedin District Court next week.
His four male associates were also trespassed from the mall, an order which stands for two years.
Acting Snr Sgt Baron confirmed the five men had gang connections, and "lived out of town". The arrested man was a former Dunedin resident.
The alleged victim was unhurt in the incident.
Meridian mall manager Michael Porter declined to comment.
