CDLINZ: Announcement on CDL Investments New Zealand Limited and CDL Land New Zealand Limited Named as Respondents in Judicial Review Proceedings
September 17, 2021 at 12:52 am EDT
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General Announcement::Announcement by Subsidiary Company, CDL Investments N... Page 1 of 1
GENERAL ANNOUNCEMENT::ANNOUNCEMENT BY SUBSIDIARY COMPANY, CDL INVESTMENTS NEW ZEALAND LIMITED
Issuer & Securities
Issuer/ Manager
CITY DEVELOPMENTS LIMITED
Securities
CITY DEVELOPMENTS LIMITED - SG1R89002252 - C09
Stapled Security
No
Announcement Details
Announcement Title
General Announcement
Date &Time of Broadcast
17-Sep-2021 12:17:55
Status
New
Announcement Sub Title
Announcement by Subsidiary Company, CDL Investments New Zealand Limited
Announcement Reference
SG210917OTHRATYA
Submitted By (Co./ Ind. Name)
Enid Ling Peek Fong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Please refer to the Announcement released by CDL Investments New Zealand Limited on 17 September 2021 titled "CDL Investments New Zealand Limited and CDL Land New Zealand Limited Named as Respondents in Judicial Review Proceedings".
CDL INVESTMENTS NEW ZEALAND LIMITED AND CDL LAND NEW
ZEALAND LIMITED NAMED AS RESPONDENTS IN JUDICIAL REVIEW
PROCEEDINGS
Residential property developer CDL Investments New Zealand Limited (NZX: CDI) and its wholly owned subsidiary CDL Land New Zealand Limited ("CDLL") have both been named as Respondents in a High Court judicial review proceeding which has been brought by the Applicant, Winton Property Investments Limited, and which has been served on both CDI and CDLL by Winton's solicitors.
The judicial review action has been taken by the Applicant in relation to a recent decision relating to CDLL's acquisition of land in Havelock North which was advised to the market on 21 July and which has settled. The Applicant is seeking, inter alia, an order setting aside the decision of the Overseas Investment Office in respect of that approval and / or a declaration that Ministers erred at law in making their decision to grant consent.
CDI and CDL Land are taking legal advice and will vigorously defend its position insofar as it relates to the judicial review and the orders sought by the Applicant. As the matter is now before the High Court, neither CDI nor CDLL will be making any further comment at this stage.
-ENDS-
Issued by CDL Investments New Zealand Limited
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Disclaimer
CDL - City Developments Ltd. published this content on 17 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 September 2021 04:51:08 UTC.
City Developments Limited is a Singapore-based global real estate company with a network spanning approximately 143 locations in 28 countries and regions. Its portfolio comprises residences, offices, hotels, serviced apartments, student accommodation, retail malls and integrated developments. The Company's segments include Property development, Hotel operations, Investment properties and Others. The Property development segment is engaged in developing and purchasing properties for sale. The Hotel operations segment owns and manages hotels. The Investment properties segment is engaged in developing and purchasing investment properties for lease. The Others segment comprises investment in shares, management and consultancy services, and provision of laundry services. The Company has developed over 50,000 homes and owns around 21 million square feet of gross floor area in residential for lease, commercial and hospitality assets globally, and it has over 150 hotels worldwide.
CITY DEVELOPMENTS LIMITED 
