Results for New Zealand
- Henderson Has Creditors On Side
The financial fate of struggling Auckland developer David Henderson hangs in the balance, after creditors voted for his repayment scheme yesterday, The New Zealand Herald reported. Bankruptcy proceedings before Associate Judge Doogue could go to the ...
Daily Headline - global.abi.org - 04/19/2011 - 08:50 - 0 comments
- Henderson Wins Bankruptcy Fight
Struggling Auckland developer David Stewart Henderson just won the right to repay creditors in a partial deal which sees him avoid bankruptcy, The New Zealand Herald reported. Attempts by other developers to strike compromise deals have failed but th ...
Daily Headline - global.abi.org - 04/18/2011 - 07:09 - 0 comments
- Allied Farmers May Default On $7.5 Million Loan
Allied Farmers, the finance company hobbled by the collapse in value of its loan book, may not be able to repay $7.5 million owed to its failed Allied Nationwide Finance unit when it comes due on July 1, The New Zealand Herald reported. Managing dire ...
Daily Headline - global.abi.org - 04/11/2011 - 08:51 - 0 comments
- AMI Government Bailout: Could Cost $1 Billion
A possible bailout of AMI Insurance will see the Government pump up to $500 million of equity into the ailing insurer and hold the right to take control of the company. But the final cost could be double that, The National Business Review reported. F ...
Daily Headline - global.abi.org - 04/06/2011 - 22:21 - 0 comments
- DataSouth Companies Liquidated
Three of the four NZ-registered companies associated with IT services company DataSouth have been placed in liquidation, The National Business Review reported. A fourth, DataSouth Finance is now subject to a Serious Fraud Office investigation, reveal ...
Daily Headline - global.abi.org - 04/03/2011 - 17:51 - 0 comments
- David Henderson Fights Another Day - Bankruptcy Averted
Princes Wharf developer David Henderson averted bankruptcy this morning to allow him and his creditors time to discuss another proposal that could stop Inland Revenue's application, The New Zealand Herald reported. High Court Associate Judge Jer ...
Daily Headline - global.abi.org - 03/30/2011 - 23:02 - 0 comments
- Don Ha Responds To Real Estate Receivership
Don Ha Real Estate, a Ray White Group franchise, has been placed in receivership. Don Ha is a former NBR Rich Lister and horse trader, The National Business Review reported. The extent of the company's financial woes will be revealed on May 20 i ...
Daily Headline - global.abi.org - 03/21/2011 - 07:03 - 0 comments
- SFO Probes Failed Insurance Group
The Serious Fraud Office has launched an investigation into failed insurance broker Herbert Insurance Group, which was placed in receivership this month, The New Zealand Herald reported. SFO Director, Adam Feeley, said the office was investigating co ...
Daily Headline - global.abi.org - 03/18/2011 - 06:55 - 0 comments
- Whitcoulls Administrator Asks For Time-Out
Ferrier Hodgson, voluntary administrators for Whitcoulls' parent, REDgroup, yesterday sought High Court approval to extend the time available to consider its options, The New Zealand Herald reported. Under the voluntary administration rules, a s ...
Daily Headline - global.abi.org - 03/16/2011 - 08:00 - 0 comments
- Interest Rate Cut May Be Short-Lived
On Thursday, Reserve Bank governor Alan Bollard cut the official cash rate to 2.5% from 3%. But the cut, which was widely anticipated following the Christchurch earthquake last month, may be a relatively short-lived one, The National Business Review ...
Daily Headline - global.abi.org - 03/10/2011 - 08:35 - 0 comments