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Bath sues over failed Perpetual Guardian sale

Friday, September 8th 2017, 1:08PM

Andrew Barnes's Bath Street Capital, which owns Perpetual Guardian, is taking legal action over the failed sale of the business to an Australian firm earlier this year.

Originally, the plan was to list Completus (which owns Perpetual Guardian), however Barnes negotiated a trade sale with Australian firm Sargon Capital earlier this year.

That sale fell over, for reasons which remain unclear. However, it appears Sargon were unable to settle the transaction.

At the time Complectus said Sargon "did not meet its obligations under the sale and purchase agreement."

Tags: Andrew Barnes Bath Street complectus Perpetual Guardian

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ANZ 5.79 4.95 5.15 5.49
ANZ Special - 4.45 4.65 4.99
ASB Bank 5.80 4.75 4.99 5.29
ASB Bank Special - 4.39 4.69 4.99
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Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
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Housing NZ Corp 5.79 4.75 4.99 5.29
HSBC Premier 5.79 4.19 4.29 4.89
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
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ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.95 5.15 5.49
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - ▼4.45 4.65 4.99
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.30 4.86 4.94 5.30
RESIMAC Special 5.00 - 4.75 -
SBS Bank 5.89 4.99 5.19 5.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 4.59 4.69 4.99
Sovereign 5.90 4.75 4.99 5.29
Sovereign Special - 4.39 4.69 4.99
The Co-operative Bank - Owner Occ 5.75 4.55 4.69 4.99
The Co-operative Bank - Standard 5.75 5.05 5.19 5.49
TSB Bank 5.80 4.80 5.15 5.45
TSB Special - 4.55 4.69 4.79
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.95 4.99 5.19 5.44
Westpac - Offset 5.95 - - -
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Median 5.82 4.75 4.99 5.29

Last updated: 24 November 2017 8:29am

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