New Zealand

Results for New Zealand

Construction, Retailers, Farms Flagged as Next Swathe of Financial Failures

Insolvency practitioners could face fines of up to $75,000 if they don't report serious issues in failed businesses, if proposed legislative amendments go ahead, Radio New Zealand reported. The penalties were one idea floated in a Supplementary Orde ...

Daily Headline - global.abi.org - 08/27/2018 - 00:52 - 0 comments

JB Hi-Fi Posts $2.9 Million Loss for NZ, Expects Sales to Continue Shrinking

JB Hi-Fi expects to see another year of declining revenues on this side of the Tasman as the ASX-listed discount consumer electronics retailer attempts to drive profitability in its New Zealand unit, The New Zealand Herald reported. The local divisio ...

Daily Headline - global.abi.org - 08/13/2018 - 23:06 - 0 comments

Bella Vista Report: $4 Million Owed - But Just $28 In The Bank

The liquidators of Bella Vista Homes have just $28 with which to pay more than $4 million to creditors – unless they can recover money from two former directors and a series of related company transactions, The New Zealand Herald reported. Insolvency ...

Daily Headline - global.abi.org - 06/28/2018 - 23:10 - 0 comments

NZ High Court Places CBL Insurance In Interim Liquidation

New Zealand’s High Court placed insurance firm CBL Insurance Ltd, the main subsidiary of CBL Corporation Ltd, in interim liquidation on Friday after a request from the country’s central bank, Reuters reported. The Reserve Bank of New Zealand regulates th ...

Daily Headline - global.abi.org - 02/25/2018 - 23:01 - 0 comments

New Zealand Blocks China's HNA Due to Ownership Doubts

New Zealand has blocked HNA Group’s $460 million purchase of a vehicle finance firm owned by Australia and New Zealand Banking Group in the latest in a series of setbacks around the world for the acquisitive Chinese conglomerate, Reuters reported. The pr ...

Daily Headline - abi_admin - 12/22/2017 - 00:36 - 0 comments

ANZ Bank Full-Year Cash Profit Rises 18% as Bad Debts Fall

Australia & New Zealand Banking Group Ltd. full-year earnings rose 18 percent on growth in its domestic banking businesses and lower bad debts, even as margins narrowed, Bloomberg News reported. Unaudited cash profit, which excludes one-time items, r ...

Daily Headline - global.abi.org - 10/25/2017 - 23:41 - 0 comments

New Zealand Unit of Topshop Placed in Receivership

The New Zealand arm of British fashion retailer Topshop said on Thursday that it had been placed in receivership, just two years after the brand arrived in the country, the International New York Times reported on a Reuters story. Top Retail Limited, ...

Daily Headline - global.abi.org - 09/07/2017 - 22:56 - 0 comments

Nosh Chain Tipped Into Receivership

Upmarket grocery chain Nosh has been placed in receivership, Companies Office records show. Damien Grant was appointed as a receiver on Friday. Before the receivership, staff were waiting to be paid wages and numerous creditors had ceased supplying the s ...

Daily Headline - global.abi.org - 07/16/2017 - 23:02 - 0 comments

Property Ventures Liquidator Alleges PwC Helped Firm Skirt Insolvency

PwC advised Property Ventures (PVL) on ways to continue trading when by some accounts it was insolvent while at the same time giving David Henderson's failed property development company a clean bill of health as statutory auditor, the liquidators a ...

Daily Headline - global.abi.org - 05/10/2017 - 20:05 - 0 comments

More Money Recovered from Alleged Ponzi Scheme

Liquidators have recovered a further $35,000 from clients who go more money out than they put into an alleged Ponzi scheme. A Christchurch forex firm, which traded as BlackfortFX, has been in receivership since May 2015 after the Financial Markets Author ...

Daily Headline - global.abi.org - 02/23/2017 - 22:37 - 0 comments

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