DecisionConsent declined
Section 12(a) Overseas Investment Act 2005
Decision date23 July 2011
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 16.4985 hectares of land at SHW 10, Taipa, Doubtless Bay, Northland.
ConsiderationCONFIDENTIAL
ApplicantMegastuff Limited
Kim Dotcom, Hong Kong (SAR) (100.0%)
VendorAaron Allbright Trust & Gary Rodrigue Trust
Rodrigue (Gary Brian) and Allbright (Aaron Beardsley), United States of America (100.0%)
Background

Mr Dotcom, the sole shareholder of the Applicant, and his family have been granted New Zealand residence visas but do not intend to reside indefinitely in New Zealand.

The overseas investment transaction has not satisfied all the criteria in section 16 of the Overseas Investment Act 2005.

More informationGreg B Towers
Simpson Grierson
Private Bag 92518
Wellesley Street
AUCKLAND