| Decision | Consent granted Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision date | 12 May 2015 |
| Investment | An overseas investment in significant business assets, being the Applicant’s acquisition (by and through its trustee and manager), of property in New Zealand used in carrying on business in New Zealand for consideration exceeding $100m, that property being loans and related securities originated by Secure Funding Limited. |
| Consideration | Greater than $100,000,000 |
| Applicant | Liberty NZ Warehouse Trust No. 1 Sherman Ching Ma, United States of America (100.0%) |
| Vendor | Secure Funding Limited Sherman Ching Ma, United States of America (100.0%) |
| Background | The Investment is a securitisation transaction under which residential mortgage loans originated by the Vendor will be acquired by the Applicant trust, which will then be funded by warehouse facility or on the capital markets. This will fund the Vendor’s future lending. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Susie Kilty Buddle Findlay PO Box 2694 WELLINGTON 6140 |