Results for New Zealand
- Pumpkin Patch Owes ANZ Bank $59.5 Million
Pumpkin Patch owes its bank nearly $60 million and its unsecured creditors another $13.2m. A receivers' report by Brendon Gibson and Neale Jackson of KordaMentha shows the children's clothing company, which was put into receivership in October, ...
Daily Headline - global.abi.org - 12/27/2016 - 22:48 - 0 comments
- Chow Brothers Buy Fire Business From Receivership To Protect Loan
Millionaire property magnates the Chow brothers have been forced to buy a fire services company to protect a bank loan they bought earlier this year, Business Day reported. Michael and John Chow, with their business partner Clint Webber, made a quick ...
Daily Headline - global.abi.org - 12/15/2016 - 19:58 - 0 comments
- Wynyard Group In Voluntary Administration
Software company Wynyard Group has been put in voluntary administration. KordaMentha partners Neale Jackson and Grant Graham have been appointed administrators of the company, which creates security software for use by companies and law enforcement agenc ...
Daily Headline - global.abi.org - 10/24/2016 - 20:33 - 0 comments
- Student Loan Borrowers Seeking Bankruptcy As Millions In Debts Wiped Due To Insolvency
Overseas graduates declaring themselves penniless are among the 483 debtors whose $18 million in students loans have been wiped by bankruptcies, Stuff.co.nz reported. Inland Revenue has revealed the latest figures as the amount owed by student loan defau ...
Daily Headline - global.abi.org - 10/02/2016 - 23:38 - 0 comments
- Plan To Regulate Insolvency Sector Welcomed
A plan to regulate the insolvency sector and shut down unscrupulous operators is being welcomed by an industry body, Radio New Zealand reported. The government has released the first part of a review into insolvency laws, which recommends licensing for p ...
Daily Headline - global.abi.org - 09/01/2016 - 22:53 - 0 comments
- Insolvency Practitioners Face New Licensing Regime
New Zealand's insolvency practitioners look likely to face a new licensing regime after a report to Commerce Minister Paul Goldsmith found that gaps in existing rules enable dishonesty and incompetence, The New Zealand Herald reported. The publi ...
Daily Headline - global.abi.org - 08/25/2016 - 22:57 - 0 comments
- Creditors Vote To Put Woosh Wireless Into Liquidation
Woosh Wireless' creditors, thought to be owed almost $13 million, have voted to put the troubled internet provider into liquidation, The New Zealand Herald reported. The business was founded in 1999 and has burned through more than $100 million ...
Daily Headline - global.abi.org - 07/05/2016 - 22:04 - 0 comments
- Dick Smith Goes Into Receivership
Electronics retailer Dick Smith has been put into receivership after its banks refused to keep propping it up following poor sales. The company, which has nearly 400 stores in Australia and New Zealand, said in August it was carrying too much of the wron ...
Daily Headline - global.abi.org - 01/04/2016 - 22:00 - 0 comments
- Solid Energy Creditors Agreement Challenged By Cargill International
State owned miner Solid Energy faces a court action to cancel its scheme to repay creditors, Stuff.co.nz reported. Cargill International has filed in the High Court for termination of Solid's Energy's scheme to pay back trading creditors, banks ...
Daily Headline - global.abi.org - 10/14/2015 - 21:55 - 0 comments
- 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 - 20:40 - 0 comments