The developer of a multimillion-dollar township at Queenstown, has $79.6 million of claims for money owed against it, receivers say.
Developer Five Mile Holdings is owned by Property Ventures, controlled by high-profile Christchurch developer Dave Henderson.
Five Mile's principal assets are real estate. It was placed in receivership on July 9 after defaulting on interest payments to secured creditor Hanover Finance.
Receivers Rod Pardington and David Vance, of accounting firm Deloitte Touche Tohmatsu, said in their first report that claims received to date were $76.6m from secured creditors and $2.98m from unsecured creditors, The Press reported today.
The Five Mile receivers said they had not reviewed the creditors' claims, while claims had not been received from all parties with security interests registered against Five Mile.
The amount owed to the appointer, FMH Nominees, acting for Hanover Finance and financier NZ Castle, was $73.62m.
