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

 

CBL Corporation enters Voluntary Administration


KordaMentha New Zealand partners Brendon Gibson and Neale Jackson were appointed Voluntary Administrators by the Board of CBL Corporation Ltd (and certain of its subsidiaries) on 23 February 2018.

Administrator Brendon Gibson said: ”We are working closely with CBL’s management and its directors to execute strategies that preserve the CBL group’s various operating units.”

Voluntary administration allows the group to continue trading through a formal process at the parent-company level, to determine the best way forward for all stakeholders. CBL is a credit and financial risk specialist insurer listed on the New Zealand and Australian stock exchanges.

This administration relates to New Zealand-domiciled companies. It does not affect any other companies that are ultimately owned by CBL Corporation Ltd.

Other CBL Group companies that are unaffected include Assetinsure and DepositPower in Australia and Europe-based PfP, SFS and European Insurance Services.

The CBL Group companies Messrs Gibson and Jackson have been appointed to as Administrators are:

• CBL Corporation Limited
• LBC Holdings New Zealand Ltd
• LBC Holdings Americas Ltd
• LBC Holdings UK Ltd
• LBC Holdings Europe Ltd
• LBC Holdings Australasia Ltd
• LBC Treasury Company Ltd
• Deposit Power Ltd
• South British Funding Ltd
• CBL Corporate Services Ltd

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Land Report: Issues With Soil Degradation

An environmental report released today has found we are damaging and losing our soils and our native plants and animals. More>>

ALSO:

Water Quality Report: Cause For Optimism

National River Water Quality Trends released by Land, Air, Water Aotearoa (LAWA) this week, reveal that for all river water quality parameters monitored over a 10 year period, more sites were improving than deteriorating. More>>

ALSO:

IMF Report On NZ: Positive Economic Outlook

Minister of Finance Grant Robertson has welcomed the IMF’s Concluding Statement, released following its annual visit, which provides an independent assessment of the strength of the New Zealand economy. More>>

ALSO:

Retail Power Price: Review Panel Named

The Energy and Resources Minister Megan Woods has released the details of who will sit on an expert advisory panel which is tasked with leading a review into the price of electricity in New Zealand. More>>

ALSO:


Increasingly Disruptive Threats: Govt Cyber Security Refresh

Broadcasting, Communications and Digital Media Minister Clare Curran today announced a comprehensive refresh of New Zealand’s approach to cyber security. More>>

ALSO:


Regional Growth: Action Plan To Modernise Taranaki’s Economy

The Provincial Growth Fund (PGF) will invest up to $20 million to help future-proof the Taranaki region by diversifying its economy, creating additional jobs and leveraging off the strong base the region has established through its oil, gas and agricultural ... More>>

ALSO:

Winding Down Irrigation: Funding Ends For Crown Irrigation Investment

The Government has begun winding down public funding for large-scale irrigation through Crown Irrigation Investments Limited (CIIL), in line with the Coalition Agreement and the Confidence & Supply Agreement. More>>

ALSO: