Family home lost

PHOTO: MARLBOROUGH REAL ESTATE A house on Port Underwood Rd in Waikawa has been listed for sale.

A struggling businessman will lose his beach-front house to a neighbour who offered to help only to later make a bid for the family home.

Gary Douglas Mann and his family lived in the house at Waikawa, near Picton, but it was owned by his business Silo Solutions NZ, which built and delivered large storage silos.

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But the business went into receivership last year after multinational cement and gravel supplier LaFarge Holcim did not pay a $380,000 bill for a silo installed on a Wellington wharf.

Silo Solutions filed for bankruptcy, owing about $220,000 to Isso Holdings, which had financed the company’s purchase of the Port Underwood Rd house.