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Auckland lawyer Phil Creagh says a Court of Appeal ruling will restore New Zealand’s reputation with Singaporean investors.
Creagh had been running the case about an uncompleted Queenstown 2007 development next to the Hilton Hotel at Kawarau Falls for nearly five years.
The judgment restored New Zealand’s reputation as a fair place where the courts hold developers to their promise, Creagh said.
The Court of Appeal awarded the 71 mostly Singaporean investors $40 million damages including their $5.5m worth of apartment deposits and interest.
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Mike Langford
The Kawarau Falls hotel site where Singaporeans invested and ended up in a legal dispute.
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