One of New Zealand's top hotels, the Westin has been stripped of its Qualmark licence as a bitter battle between unit owners and the receiver of the hotel's management company continues.

Failed property developer May Wang's attempt to avoid bankruptcy in the Auckland High Court has been rejected after the IRD objected to a creditor repayment plan.

Hanover Finance has called in the lawyers to pursue Allied Farmers over allegedly attempting to "evade various contractual obligations to Hanover."

Hyatt Regency Auckland hotel - the single biggest loan book asset of South Canterbury Finance - has been sold for between $50m and $60m.

The SFO has laid eight charges against Malcolm David Mason and another individual over corrupt property transactions involving the ACC.

Auckland property developer Patrick Fontein has been declared bankrupt.

New property developers are finding it harder to get bank funding.