| Decision | Consent declined Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 23 July 2011 |
| Investment | An 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. |
| Consideration | CONFIDENTIAL |
| Applicant | Megastuff Limited Kim Dotcom, Hong Kong (SAR) (100.0%) |
| Vendor | Aaron 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 information | Greg B Towers Simpson Grierson Private Bag 92518 Wellesley Street AUCKLAND |