People holding $21 million worth of bonds in Auckland's Metropolis property development are likely to get back only 50c of each dollar invested.
Wednesday, January 29th 2003, 9:59AM
by The Landlord
Tower Trust has told bondholders that they are likely to get back half of their capital invested in the bonds and none of the interest.
This predication is the worst case scenario of an earlier letter written to investors. Until now Tower hasn't been able to put an accurate figure on what investors will get back because the development company, owned by Andrew Krukziener, has refused to provide financial details.
