Mike Pero

PHOTO: Mike Pero has resigned from the real estate company that bears his name. Photo: Supplied

Well-known Christchurch-born businessman and entrepreneur Mike Pero has exited his ownership of the real estate business which still bears his name.

Companies Office records show Pero resigned as a director of Mike Pero Real Estate on October 20 and his company MPZ One ended its ownership of the business on November 4.

His company had a 12 per cent stake as of June 30, which had already reduced from 24 per cent the year before.

In 2018 Pero reduced his stake from 50 per cent to 24 per cent after reaching a settlement agreement with Mike Pero Mortgages following a long-running legal dispute.

The settlement was reached during the final stages of a High Court case that saw Mike Pero Mortgages attempting to claw back $2.2m (or $2.4m with interest) it says Mike Pero overpaid himself.