Chinese investors who have applied to buy the Crafar family's dairy farmers from receivers say they think the purchase will be allowed by regulators at the Overseas Investment Office, The National Business Review reported. Natural Dairy NZ Holdings Ltd has applied to buy the 80% it does not already own in UBNZ Assets Holdings Ltd as part of the planned purchase of 16 North Island farms owned by the Crafars and put into receivership 12 months ago, when debts topped $200 million. The 8615ha of dairy farms, mostly in the North Island, run about 25,000 dairy cattle.

Chinese Premier Wen Jiabao offered Greece a major vote of confidence on a visit to the debt-ridden European nation, saying China will continue to buy Greek bonds and announcing the creation of a $5 billion fund to help Greek shipping companies buy Chinese ships, The Wall Street Journal reported. The remarks represent some of China's most substantive support for the euro zone amid the region's debt troubles, and reflect the Asian giant's growing willingness to wield its economic clout to obtain wider international influence. Mr.

A High Court Judge has rejected embattled property developer Nigel McKenna’s last-ditch attempt to put a bankruptcy bid against him on hold, The National Business Review reported. Mr McKenna is under siege financially, with creditors from a number of troubled projects taking action to try to get their money back. Fletcher Construction, which Mr McKenna owes more than $800,000 from the construction of the Holiday Inn in Wellington, is trying to have him bankrupted. It filed a bankruptcy notice against him nearly a year ago, in November 2009.

Structured Finance, hurt by the failure of Auckland's Westin Hotel, convinced its trustee to hold off on receivership after a trust deed breach, buying time to squeeze more value from its loan book, Stuff.co.nz reported. The firm triggered a review event when total tangible assets fell below 80 per cent of aggregated repayments due, its accounts for the year ended March 31 show. Perpetual Trust, the trustee for holders of $33 million of debentures covered by a moratorium, has allowed Structured Finance to continue trading in the belief investors will get more back that way.

Allied Farmers’ auditor has been unable to verify the company’s financial statements and cannot form an opinion on its going concern status, The National Business Review reported. PricewaterhouseCoopers issued a heavily qualified opinion on Allied’s financial statements in the rural services and finance company’s annual report released to the market this morning. The auditor said there was insufficient evidence to verify whether the company would be able to generate sufficient cashflows from its funding initiatives to qualify a going concern assumption.

South Canterbury Finance (SCF) debenture and deposit holders will be paid in the middle of October, Trustees Executors, the trustee says, The Sydney Morning Herald reported. Receivers were appointed to SCF on August 31. The New Zealand Government decided to make full settlement under the terms of the retail deposit guarantee scheme on August 31 and the trustee has been holding the money on behalf of 35,000 investors since then. Bondholders were repaid on September 23. They represented about $NZ350 million ($A267.48 million) of the $1.6 billion owned to SCF secured investors.

Another Marlborough wine company is in receivership and one unsecured creditor has predicted it will be only a month before his company suffers the same fate, The Marlborough Express reported. Otuwhero Estate Wines, based in the Awatere Valley, was put into the management of Deloitte partner Grant Jarrold, of Christchurch, on Monday. Mr Jarrold said he was still assessing options for the company. Otuwhero operations director Michael Davison, of Clifford Bay near Blenheim, would not comment.

Takefuji Corp., a consumer lender that came to symbolize practices that led to a crackdown against the industry, filed for bankruptcy protection with 433.61 billion yen ($5.15 billion) in outstanding debts, the first major failure in an industry suffering under the weight of stricter regulatory control, The Wall Street Journal reported. Takefuji's demise marks the end of an era in an industry that lent millions of yen to lower-income Japanese at sky-high interest rates.

It is likely to be at least two weeks before 150 workers at a north-west Tasmanian carpet factory know whether they still have jobs, ABC News reported. Tascot Templeton carpets at East Devonport went into voluntary administration last week. The Textile Clothing and Footwear Union says the Tasmanian Government has already given the company $4 million and it is time the Commonwealth provided some assistance. The Federal Member for Braddon Sid Sidebottom says there is already special assistance for textile workers but he will meet the union.

Consumer loan company Takefuji Corp. has decided to file for bankruptcy in the face of mounting claims by borrowers for reimbursement of excessive interest charges and thinning profit margins under tightened consumer loan regulations, sources said Monday, The Japan Times reported. Takefuji President Akira Kiyokawa denied media reports that it would seek court protection from creditors, telling reporters at his home in Yokohama that no decision had been made.