There's an assurance the future of a large scale North Canterbury residential development isn't under threat, despite being placed in receivership.
Pegasus Town Limited's failed to secure a backer for an outstanding loan of $55 million.
Infinity Investment Group chief executive Bob Robertson says they were close to securing a deal with a main bank and a large New Zealand corporate.
"Receivership does affect these things and both parties have said to us look we're still progressing this and it may get over the line next week."
Photo: NZ Herald