Receivers have taken control of the company which manages one of Auckland's top hotels, the Westin Lighter Quay.

Fears about debt and an unwillingness to spend is holding back New Zealand's economic recovery, says Jonathan Ling, chief executive of Fletcher Building.

The manager of National Property Trust has bowed to unitholder pressure and stepped aside.

New Zealand's property title transfer system is secure and changes have improved it, a Government official says.