NZF Group, the financial services firm at loggerheads with the receivers of its failed lending unit, has agreed to exit its Mike Pero Mortgages joint venture with Australia's Liberty Financial for a yet to be determined price.The Auckland-based firm has agreed to sell its 50 per cent stake in MPMH, which owns the Mike Pero Mortgages business, and half of Mike Pero Real Estate, to Liberty. The parties will seek an independent valuation.The sale might need shareholder approval, depending on the price, but this will be the only condition once the valuation is set.The partners are involved in a High Court dispute over the venture, after Liberty filed papers alleging NZF Group was in breach of the agreed deal.NZF Group is also in a battle with Korda Mentha, the receiver for NZF Money, which is seeking to claw back funds for investors who are owed NZ$16.4 million by the failed finance company.The firm is subject to an investigation by the Serious Fraud Office relating to transactions dating back to 2006.New Zealand Finance Holdings and Liberty Financial bought out minorities in Mike Pero Mortgages for NZ$1.10 a share.