Receivers called in to Queenstown hotel project
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Receivers have been appointed to two companies developing the first stage of Queenstown’s NZ$1 billion (US$ 620 million) Kawarau Falls Station six-hotel development.
The future of the country’s most ambitious real estate project is now up in the air.
Auckland developer Nigel McKenna, managing director of Melview Group, has been building the luxury tourism estate on the Frankton arm of Lake Wakatipu.
However, yesterday, Brendon Gibson and Grant Graham of KordaMentha said they had been appointed receivers of Melview (Kawarau Falls Station) Investments and Melview (Kawarau Falls Station) Development by international funder Bank of Scotland.
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