Property developer


PHOTO: IAIN MCGREGOR/STUFF Tim Archibald had to sell properties in Lyttelton under pressure from creditors.

A developer’s serious mismanagement of three companies has earned him a four-year ban and a label as a “public risk”.

Christchurch property developer Timothy Robert Archibald, a former bankrupt, was reported to the Companies Office by the Ministry of Business, Employment and Innovation last year after the liquidation of his three companies was completed.

Documents released under the Official Information Act reveal the companies – LDC Properties, GRA Developments and TBA Developments – bought properties in Lyttelton in July 2013, apparently with the intention of developing them.

Within a month the companies sold the land for cash, Bartercard dollars and Empire Trade Exchange currency. Archibald was fighting a bankruptcy threat at the time.


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