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

 

21, 22, 23 December: Air NZ Workers Vote To Strike

Last week union members voted overwhelmingly in favour of industrial action in response to the company’s low offer and requests for cuts to sick leave and overtime. More>>

ALSO:

24/7: National Geohazards Monitoring Centre Opens

For the first time, New Zealand will have 24-7 “eyes on” monitoring of the four perils: earthquake, tsunami, landslides and volcanic activity. More>>

ALSO:

EU Wine Exports: Yealands Fined For "Unprecedented Offending"

Yealands Estate Wines has pleaded guilty to “unprecedented offending” under the Wine Act 2003 and has copped a $400,000 fine. More>>

ALSO:

Discussion Paper: Govt To Act On Unfair Commercial Practices

“I’ve heard about traders who have used aggressive tactics to sell products to vulnerable consumers, and businesses that were powerless to stop suppliers varying the terms of their contract, including price.” More>>

ALSO:

'Considering Options' On Tip Top Ownership: Fonterra Drops Forecast Milk Price

Fonterra Co-operative Group Limited today revised its 2018/19 forecast Farmgate Milk Price range from $6.25-$6.50 per kgMS to $6.00-$6.30 per kgMS and shared an update on its first quarter business performance. More>>

ALSO: