Brother against brother for $2m

Leaky-building property developer Greg Nielsen is on the verge of bankrupting his brother and former business partner Rod over a $2 million debt.

The Nielsen brothers became known in the early 2000s for substandard and incomplete terraced housing developments.

In December, the High Court ordered Greg Nielsen to pay $1.2 million in compensation for building leaky townhouses at 3 Laxon Terrace in Newmarket.

Relations between the brothers have soured, and their legal wrangling culminated in a bankruptcy hearing in the High Court at Auckland yesterday.

Justice Hugh Williams has reserved his decision, meaning he will decide shortly whether Rod Nielsen should be bankrupted.

To read the full NZ Herald article click here

Posted: 13 Mar 2009

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