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Miniso-linked Auckland property firm LDW in $150m debt, assets in ‘jeopardy’
['Jaime Lyth']
BusinessDesk | NZ breaking news and commentary on business, NZX and politics
LDW is directed by Lin Liu, who is the director of the collapsed Miniso/Yoyoso retail chain.
(Composite image: BusinessDesk)An Auckland couple are more than $30 million out of pocket after lending money to a property company in “jeopardy” over $150m of debt and a director who has left the country.
A court judgment obtained by BusinessDesk reveals allegations that LDW’s reported financials were “materially false,” with undisclosed borrowings against a portfolio of at least 89 residential properties.
Property investment company LDW was tipped into liquidation in June after it defaulted on the repayment of loans advanced by priv...