Graham Crombie.
A deal designed to help Delta recover a $13.4million bad
debt from a stalled Christchurch subdivision is expected to
take years to realise and comes with no guarantees, it has been
revealed.
Dunedin City Holdings Ltd chairman Graham Crombie outlined
details of the deal in a media statement yesterday, following
a marathon discussion behind closed doors at Monday’s full
Dunedin City Council meeting.
Councillors at the meeting authorised Delta to enter into a
new loan agreement with a potential buyer for the Yaldhurst
subdivision, he said.
That allowed the $13.4million bad d…
Read the full article at: http://www.odt.co.nz/news/dunedin/392427/deal-designed-help-deltas-bad-debt-woes