Results for New Zealand
- Strategic Finance Receiver Trims Likely Returns
Investors in failed lender Strategic Finance are facing a smaller return with the receiver cutting 9 cents in the dollar from the top end of the prospective recovery range, The New Zealand Herald reported. Receiver John Fisk, of PricewaterhouseCooper ...
Daily Headline - global.abi.org - 05/06/2011 - 09:54 - 0 comments
- IP Qualifications Profiles January 2011 - New Zealand
Appointment Generally an IP is appointed to the majority of insolvency appointments. However, sometimes a non-IP who may be an industry specialist may be appointed. The type of IP appointed will vary according to the insolvency proceedings. If it is ...
Resource Article - abi_editor - 05/05/2011 - 16:17 - 0 comments - 1 attachment
- Irongate Tips Into Receivership
Troubled property investment company Irongate has asked trustee Perpetual to call in the receivers after failing to secure a deal to raise the $50 million it needs to pay out retail bondholders this month, BusinessDay.co.nz reported. Formerly called St L ...
Daily Headline - global.abi.org - 05/04/2011 - 09:48 - 0 comments
- Floating Mortgages Now Over 50% Of All New Zealand Home Loans
The percentage of New Zealand's $168.2 billion worth of mortgages on floating, or variable, interest rates has popped up above half for the first time since the Reserve Bank started collecting the data on floating versus fixed-term rates in June 199 ...
Daily Headline - global.abi.org - 05/03/2011 - 09:10 - 0 comments
- Financial Markets Authority Established
Restoring investor confidence in New Zealand’s financial markets is the major goal of the new Financial Markets Authority, which was formally established Monday, The National Business Review reported. The FMA takes over the functions of the Securitie ...
Daily Headline - global.abi.org - 05/01/2011 - 22:45 - 0 comments
- OECD Supports Capital Gains Tax, Lifting Retirement Age
A new report by the Organisation for Economic Cooperation and Development (OECD) argues New Zealand to favour a capital gains tax, and lift the retirement age, The New Zealand Herald reported. The OECD's latest economic survey of New Zealand, pu ...
Daily Headline - global.abi.org - 04/26/2011 - 21:10 - 0 comments
- Bailout Decision Weeks Away – AMI
Struggling insurer AMI says it does not yet know if any government bailout will be necessary and its boss says it will be weeks before that becomes clear, The New Zealand Herald reported. John Balmforth, chief executive of Christchurch-headquartered ...
Daily Headline - global.abi.org - 04/26/2011 - 09:19 - 0 comments
- Western Pacific Liquidators Cancel Policies
Collapsed insurer Western Pacific has had its policies cancelled by liquidators, The National Business Review reported. Western Pacific had 7000 policyholders, and entered liquidation on April 1 after receiving 78 claims following the Christchurch ea ...
Daily Headline - global.abi.org - 04/26/2011 - 09:25 - 0 comments
- Debt Overload Leaves Youth No Choice But To Leave
This week, the Government went to its bankers and asked to borrow a record $1 billion in one week—effectively re-mortgaging an already indebted house just as its retirement costs are about to surge and the ability of its taxpayers to support that cost is ...
Daily Headline - global.abi.org - 04/25/2011 - 07:51 - 0 comments
- FMA Super-Regulator To Get $24 Million Funding In First Year
New Zealand’s cabinet has assigned $24 million funding in the first year for the new Financial Markets Authority, which begins operation on 1 May, The National Business Review reported. The budget will increase to $28 million in 2013/14 to reflect th ...
Daily Headline - global.abi.org - 04/20/2011 - 09:28 - 0 comments