Mike Pero accusations fly
NZF has called a meeting of shareholders to decide whether or not it should sell its 50% stake Mike Pero Mortgages Holdings (MPMH) to its joint venture partner Liberty Financial.
NZF’s board decided in August last year, to sell its stake to Liberty as the relationship between the two parties had become untenable.
A year earlier Liberty had alleged that NZF was in default of the joint venture agreement as it “had ceased or threatened to cease to carry on all or substantially all of its business or operations.”
When asked about this Liberty executive director Peter Rollason said the joint venture was formed in 2006 and it was on the basis both parties would contribute operationally and financially.
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