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Further links between failed property investment group Blue Chip and troubled finance company Lombard Finance have emerged.
Documents obtained by the Herald show Lombard holds mortgages over Blue Chip founder Mark Bryers' $2.4 million Remuera home, indicating Bryers owes money to the company.
It is understood the two mortgages, held by Lombard Finance and Investments and Lombard Nominees Ltd, rank behind one from Kiwibank.
Last week the Herald reported that Lombard, which says it is unable to make repayments to its 4600 investors, was likely owed money by the Blue Chip parent company Blue Chip Financial Solutions.
Companies Office records show Lombard Finance and Investments holds security over various Blue Chip assets.
Lombard Finance's parent on March 28 acquired the remaining 30 per cent of former Blue Chip company Tasman Mortgages it did not already own.
Just days before the acquisition was disclosed, Lombard chief executive Michael Reeves told the Herald he was unhappy having Blue Chip as part owner of the business given its well publicised problems.
At least part of Tasman Mortgages business involved lending money to Blue Chip clients to invest in the company's schemes.
Blue Chip Financial Solutions' chairman Julian Gosse, Bryers and Reeves did not return the Herald's calls yesterday.
Blue Chip and Lombard are also linked via Auckland property developer Tim Manning.
Late last year Manning took over the Brooklyn Rise residential development in Wellington from original developer Lance James. It is understood one of Lombard's biggest loans is on the troubled development.
Manning, who has attracted attention before for his involvement in several leaky property developments, is behind the Turner Waverley development in Auckland and some Blue Chip investors have paid the company deposits on apartments in the project.
But Manning's links with Blue Chip don't end there - he has also been a Blue Chip shareholder.
One of Manning's companies, Norwich Treasury, is recorded as having held 3 per cent of Blue Chip when it listed on the ASX in 2006.
Meanwhile, sharemarket operator New Zealand Exchange yesterday confirmed it is investigating whether the listed Lombard Group had been complying with market disclosure rules during the period leading up to Lombard Finance and Investment's statement last week that it could not meet its obligations.
Lombard Finance and Investments has a loan book of $144 million and owes $127 million to debenture investors and unsecured note holders.
It plans to ask investors for a temporary freeze on repayments of principal to give it time to trade its way out of difficulty.
Lombard Group shares closed unchanged at 23c yesterday.
