Investors who bought Auckland inner-city units through companies associated with Blue Chip face having their electricity cut off because bills have gone unpaid for weeks.
Electricity supplier Bosco Connect is to begin disconnections next weekend if landlords do not contact them and make payment arrangements.
Greta Norman, whoowns a luxury apartment in the Hudson Brown complex in Quay Park, said investors feared imminent disconnection. But some had only found out lately their power bills were outstanding, she said.
Bills were being paid by Bribanc, a property management business now in liquidation along with 18 other companies connected to Blue Chip's New Zealand franchisee.
Toby Warren, managing director of Bosco Connect which supplies power to about 65 units formerly managed by Bribanc, said yesterday the last thing he wanted was to order disconnections.
But if landlords do not contact him, he said he faced no option but to start disconnections next weekend.
He needs to hear urgently from owners of about 32 apartments which Bosco Connect has supplied for many weeks without full payment.
Arrangements had already been made with the new managers of the other 33 apartments, Warren said.
"We've been dealing with Harcourts, Crockers and First Street who have taken over a number of units so that's fine. We have a customer. But we have to kiss goodbye to anything owing before that," he said.
Payment issues arose towards the end of December and although Bosco had given Bribanc more leeway than was necessary, the bills remained outstanding, Warren said.
Bosco is a creditor of Bribanc, claiming about $12,000 in unpaid electricity fees and Warren said the firm had extended credit for many weeks, seeking to have the situation resolved.
Now that Bribanc was in liquidation, Bosco needed to contact owners so bills could be paid.
Landlords should find out who was supplying their power and inquire about the state of the account, he advised.
