Developer who owes $1m to contractors selling luxury apartments through another company
1 Apr, 2021 07:57 PM
3 minutes to read
An artist's impression of Lachlan Francis' newest proposed apartment complex, The Mont Blanc. Image / Supplied
An artist's impression of Lachlan Francis' newest proposed apartment complex, The Mont Blanc. Image / Supplied
Otago Daily Times
By Philip Chandler of Mountain Scene
A Queenstown resident whose former development company is in hock to creditors for $1 million is selling luxury apartments through a new company.
Lachlan Francis' company was to build a 16-unit apartment complex, Freshwater, on the corner of Hallenstein and York streets.
His company, CFS Trustees Ltd, was placed in liquidation on May 4 last year at the request of an out-of-pocket contractor, Amalgamated Builders Ltd.