New Zealand

Results for New Zealand

Landcorp Result 'Disappointing', But It's No Solid Energy

State owned enterprise minister Todd McClay says Landcorp won't turn a profit for "the next few years" and is again foreshadowing land sales, Stuff.co.nz reported. Record low dairy prices saw profits plunge by $25m, Landcorp said Thursday. ...

Daily Headline - global.abi.org - 08/27/2015 - 21:40 - 0 comments

Genesis Energy Uses Solid Energy Administration To Cancel Major Contract

Genesis Energy will cancel its coal supply agreement with Solid Energy from October using a clause triggered by the coal mining company's voluntary administration, Stuff.co.nz reported. The move is a blow for the country's largest coal miner, S ...

Daily Headline - global.abi.org - 08/19/2015 - 22:34 - 0 comments

NZ State-Owned Coal Miner Put Into Administration

New Zealand's debt-laden state-owned coal mining company Solid Energy Ltd was put into administration on Thursday to ward off its creditors as it looks to organise a sale of assets. The government refused to pump in any more money to support the com ...

Daily Headline - global.abi.org - 08/17/2015 - 17:43 - 0 comments

NZ State-Owned Coal Miner Put Into Administration

New Zealand's debt-laden state-owned coal mining company Solid Energy Ltd was put into administration on Thursday to ward off its creditors as it looks to organise a sale of assets. The government refused to pump in any more money to support the com ...

Daily Headline - global.abi.org - 08/13/2015 - 22:06 - 0 comments

Solid Energy Announces Voluntary Administration

Solid Energy has confirmed it is going into voluntary administration, Stuff.co.nz reported. The state-owned coal company met staff at various sites including the West Coast, Southland and Waikato on Thursday morning, before confirming the news to media i ...

Daily Headline - global.abi.org - 08/12/2015 - 20:44 - 0 comments

First Rise In Bankruptcies Since 2009

The number of people going bankrupt has ticked up for the first time since 2009 when fallout from the global financial crisis reached its peak, The New Zealand Herald reported. Figures from the Insolvency and Trustee Services show 1979 people went ba ...

Daily Headline - global.abi.org - 07/26/2015 - 21:23 - 0 comments

Cross-Border: Can a Bankrupt's Pension be used to Pay Creditors? The Search for Clarity in New Zealand and the UK

How does the objective of achieving payment for creditors in insolvency interact with the objectives of pension legislation, which seeks to ensure that individuals are adequately provided for in retirement? The courts in New Zealand and in the UK have ea ...

Resource Article - abi_admin - 07/03/2015 - 09:32 - 0 comments - 0 attachments

KordaMentha Concludes Receivership Of Somers-Edgar's Orange

The receivers for Doug Somers-Edgar's Orange Finance have concluded their work with a shortfall of about $10 million in principal and interest owed to debenture holders of the failed company, Scoop.co.nz reported. Orange froze repayments to some 2,5 ...

Daily Headline - global.abi.org - 06/29/2015 - 22:01 - 0 comments

Company Under SFO Probe Goes Into Receivership

A Christchurch-based investment company at the centre of a Serious Fraud Office and Financial Markets Authority probe has been placed in receivership, Stuff.co.nz reported. The development will be bad news for hundreds of nervous investors in the company ...

Daily Headline - global.abi.org - 05/27/2015 - 22:58 - 0 comments

NZF Enters Voluntary Administration As Reverse Listings Fail

NZF Group, the former financial services company, has entered voluntary administration after its second reverse listing proposal fell through, Scoop.co.nz reported. Last month the Auckland-based finance company said it would look to find a way to return ...

Daily Headline - global.abi.org - 05/07/2015 - 22:43 - 0 comments

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