landlord Matthew Ryan’s companies placed in receivership
Eight companies owned by Wellington landlord Matthew Ryan have been placed into court-ordered receivership following a relationship property dispute. Ryan, who faces separate criminal charges, denies that his businesses are insolvent.
Why it matters
The legal and financial troubles of a major property owner have significant implications for the local housing market and his business operations.
A Wellington mega-landlord facing criminal charges has now had eight of his companies placed into receivership - though claims they are not insolvent, BusinessDesk reported.
Matthew Ryan faces multiple charges in the Wellington District Court, including for alleged firearm possession, strangulation and making and distributing intimate visual recordings.
The businessman, who was earlier reported to own more than 200 properties, has faced the charges for more than a year.
The firearms charge relates to Ryan allegedly possessing a hunting rifle after his firearms licence had been revoked.
Now a portion of his companies have been put in court-ordered receivership, BusinessDesk reported.
BDO Wellington receivers Jessica Kellow and Iain Shephard were appointed as receivers and managers of the companies last week through an order from the High Court at Wellington.
“The appointment follows a relationship property dispute between Mr Ryan and his former partner,” Shephard said.
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