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Press Release – Land Information New Zealand A decision by the High Court in Auckland has found West Drury Holding Limited (WDHL) breached the Overseas Investment Act rules when purchasing sensitive land in Drury in June 2017. WDHL admitted that a shareholder who held 39 percent of its shares was an overseas person when the company purchased the $9.2 million property in Drury. Therefore, the company is considered to be an overseas person and it should have sought consent to buy the property. The company told the court it didn’t know it needed to apply for consent because the shareholder held a residence class visa. However, the shareholder did not meet the definition of ordinarily resident under the Overseas Investment Act as he was not residing in New Zealand with the intention of residing here indefinitely.

New zealandAnna wilson farrellJustice van bohemenWhile the courtDrury holding limitedInvestment office groupHigh courtPress releaseLand information newWest drury holding limitedOverseas investment actOverseas investmentபுதியது ஜீலாந்துஅண்ணா வில்சன் ஃப்யாரெல்போது தி நீதிமன்றம்ட்ரூரீ வைத்திருத்தல் வரையறுக்கப்பட்டவை