Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Fall in financial failures welcomed

PRESS RELEASE
Bank Customer Action Collective

A recent report on Bankruptcies is welcomed by the Bank Customer Action Collective.

'Bankruptcies and company receiverships fell last year. Figures released by the Ministry of Economic Development show 3003 people were declared bankrupt 1n 1999, compared to 3224 in 1998. Company liquidation's across New Zealand fell 4.8 percent to 942'

It is the belief of members of this organisation that the decrease in Bankruptcies is a possible result from direct pressure on the Banking Industry since the formation 18 months ago of this lobby action group.

Since meetings, and correspondence with many officials and vital media pressure we have also noticed attitude changes from a few banks towards customer / bank relationship fallout. It appears that some bankers have taken advice and moved a little more cautiously in dispute cases along with Financial downturn.

Not all bankruptcies are a directly caused by banks but there is sufficient evidence to prove that Banks dictate largely in the rise and fall of many businesses. This dictatorship (as one example only)can come from the banks ability to cut overdrafts and cash flow without explanation.

Whilst it would be foolhardy to say that all banks have taken a softer line is is certainly definite that these decreases in financial failure must be attributed to the bank management's softening knowing that their behaviours are under fire.

Suzanne Baker - for the Bank customer Action Collective - (025) 325 491 0r (025) 265 0653


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Other Windy Cities: Auckland-Chicago Named A Top 10 ‘Most Exciting’ New Route

The inclusion of Auckland-Chicago on Lonely Planet’s Where to fly in 2019? The 10 most exciting new flight routes list comes just two weeks before Air New Zealand prepares to celebrate its inaugural flight to Chicago’s O’Hare International Airport on 30 November. More>>

Deadly Strain: ESR Ups Its Reporting On Meningococcal Disease

The increasing number of cases of Group W Meningococcal disease (MenW) has prompted ESR to increase its reporting on the disease to the Ministry of Health. ESR has upped its reporting to weekly. More>>

ALSO:

Very Small Things: "Game-Changing" 3D Printing Technology Launched

New Zealand microfabrication researchers Andrea Bubendorfer and Andrew Best, the co-inventors of a new way of fabricating very small things with Laminated Resin Printing (LRP), are part of Callaghan Innovation’s MicroMaker3D team launching the new patent pending technology in the US this week. More>>

ALSO:

Wainui: Major Infrastructure Partnership For North Auckland

Minister of Housing and Urban Development Phil Twyford and Auckland Mayor Phil Goff today announced a partnership that will fund $91 million of roading and wastewater infrastructure to support the building of 9000 homes... More>>

ALSO: