Bank taken to task on sale of orchard
A banking watchdog group intends to fight the National Bank's decision to sell an orchard from beneath three Hastings brothers just before Christmas.
Robert, Gregory and Kevin Sykes lost their 67ha family property in a forced sale by the bank after they fell behind
with repayments on loans totalling $4.5 million.
The Bank Customer Action Collective said it would challenge the National Bank's decision by every possible means.
The president of the Hawkes Bay Fruitgrowers Association, David Mardon, said the Sykes brothers would probably have survived their financial crisis if they had not been hit by a series of poor apple returns.
A banking watchdog group intends to fight the National Bank's decision to sell an orchard from beneath three Hastings brothers just before Christmas.
Robert, Gregory and Kevin Sykes lost their 67ha family property in a forced sale by the bank after they fell behind with repayments on loans totalling $4.5 million.
The Bank Customer Action Collective said it would challenge the National Bank's decision by every possible means.
The president of the Hawkes Bay Fruitgrowers Association, David Mardon, said the Sykes brothers would probably have survived their financial crisis if they had not been hit by a series of poor apple returns.
