Auckland developer Hong (Vivian) Liang did not lose her business gradually. According to Companies Office records reported by the NZ Herald, 16 of her companies were placed into liquidation at 9.30am on 15 September, all at once. The trigger was a single lender, Gemstone Capital, chasing a loan on an unrelated property held by another of her companies.
Two projects are now heading to mortgagee sale, with tenders closing in the same minute through the same agency next Tuesday. One is a 26-unit terraced complex on Glendale Road in Glen Eden. It has walls and roofs, a commercial space and a 28-car semi-basement carpark, but no final Auckland Council sign-off. Graffiti and a “Danger Keep Out” sign now mark the…