PHOTO: SUPPLIED – Mike Pero, chief executive of Mike Pero Real Estate and Mike Pero Marketing, owes his joint venture partner $2.38m
Real estate kingpin Mike Pero and the companies bearing his name continue to battle through the courts in disputes over how he should pay back his nearly $2.4 million debt.
Pero no longer has stakes in Mike Pero Mortgages, but has a joint venture with its owner, Melbourne-based Liberty Financial Group in the ownership of Mike Pero Real Estate.
The dispute dates back to 2016 when Pero was ordered by the High Court in Auckland to pay back $2.38m (including interest) when it was found he had overpaid himself without the approval of Liberty.
This included providing himself with a car allowance, an increase in his base salary from $200,000 to $340,000, a brand ambassador bonus of $125,000 a year and two other payments of $100,000 each.
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