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online payday loans SOLD for $11.5m: Motukawaiti Island in the Cavalli Islands 14 Apr, 2011 04:00 AM3 minutes to readMike Barrington is a reporter for the The Overseas Investment Office (OIO) is looking into the purchase of one of Northland’s offshore jewels Motukawaiti Island in the Cavalli Islands group to confirm the sale complies with the Overseas Investment Act.The investigation was confirmed yesterday by OIO manager Annelies McClure, who said her office was aware the island which is the site of a luxury boutique guest house changed hands in August last year.The 37ha island in three titles was transferred from the Motukawaiti Island Trustee Company to St Morris NZ.The sole director of St Morris NZ is Wenning Han, of Auckland.Motukawaiti Island Trustee Company is directed by Stuart Douglas Robertson, of Auckland, who the Companies Office has listed as a director of 18 other companies.He is also recorded as the struck off or ceased director of a further 19 firms and as a shareholder or struck off shareholder of eight other companies.The was unable to contact either of those two directors for comment.The exact purchase price is unknown. But a mortgagor representative named Haiyan Yang has registered an $11.5million mortgage plus interest over the island in the name of mortgagee Jun Zhang.The island title also has a caveat in the name of Haiming Jiang with a note that St Morris NZ holds a share of the land in trust for the caveator in terms of a constructive trust.Bayleys Real Estate had the island listed for sale in 2009 for an undisclosed sum.It was understood the land agents were acting for Ray Arneson, of Paihia, but he denied that yesterday and declined to discuss his involvement with the island.The Cavalli Retreat and Spa opened on Motukawaiti in 2006. It has three rooms able to accommodate six people.online payday loans

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