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Real estate firm told to pay couple $210k they lost in NZ scam
Faber Property found negligent in marketing project; claims against directors dismissed
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A couple who lost some $210,000 invested in a New Zealand residential project six years ago will get their money back after a district judge held local real estate agency Faber Property negligent in marketing the project and failing to ensure the developer had actually secured title to the land.
But the judge dismissed the claims against Faber's director and associate director, making clear - for the first time in the real estate context - that a company director cannot be personally liable for statements made on behalf of the company in the course of business.
