Andrew Fonagy

PHOTO: LIZ MCDONALD/STUFF Auckland-based property developer Andrew Fonagy had rebuild projects in Christchurch.

A property developer behind a collapsed central Christchurch project has been ordered to pay up after his company defaulted on a loan he had personally guaranteed.

The High Court has ruled Andrew Fonagy must pay $850,000 plus interest to Primary Services New Zealand Ltd over a 2015 loan towards building a luxury Colombo St hotel and apartments.

Earlier this year the court froze the assets of Fonagy’s Cook Islands-based family trust, saying it was “seriously arguable” that he was using the trust to shift proceeds from selling an Auckland building out of the reach of the courts.


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