Failed MPM relationship doesn’t mean deadlock
Mike Pero and Mike Pero Mortgages Ltd (MPM) are back in the Auckland High Court this week, battling it out over whether or not they are irrevocably deadlocked on the issue of a dividend pay-out.
While Christchurch-based Pero founded MPM back in 1991, he no longer has holdings in the company, which is owned by Liberty Financial.
However, Pero and MPM are 50/50 partners in Mike Pero Real Estate (MPRE) and, as such, they remain intimately connected.
The current trial is the latest round in a long-running dispute between the two parties, which was kicked off by Pero’s overpayment of himself as chief executive of MPRE back in 2014.
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