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


Numeria Finance Limited (In Receivership)

Press Release
No embargo
February 18 2008

Numeria Finance Limited (In Receivership)

Grant Graham and Brendon Gibson of KordaMentha, Receivers of Numeria Finance Ltd, announced today an estimate of the outcome to debentureholders who are owed $6.7million.

"From our early analysis, we expect to return 38-51 cents in the dollar of the principal outstanding at receivership, to debentureholders. A further 19 cents could be returned depending on successful resolution of claims already in dispute with the first Receivers of Capital + Merchant Finance Ltd (In Receivership)" said Mr Gibson.

"While legal issues will determine the outcome in the related party advances under review and in dispute, the profile of the Finance Book and Loans is also a risk area. One-third of the Finance Book is in arrears. We will update debenture holders periodically as we progress. However we are mindful of the concerns of debentureholders and wished to give an early estimate to debenture holders", said Mr Gibson.

"We are continuing collections of the loan book and are responding to parties interested in purchasing the loan book" he added.


© Scoop Media

Business Headlines | Sci-Tech Headlines


By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>


Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>


Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>


Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>


Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>