Scoop has an Ethical Paywall
Five Star Consumer Finance Ltd in receivership
Thursday, 30 August 2007
Five Star Consumer Finance Ltd in receivership
Graham Miller, Managing Director of
Covenant Trustee Company Limited (‘Covenant’), has
advised that the board of directors of Five Star Consumer
Finance Limited (‘Five Star’) has requested Covenant to
appoint receivers to Five Star and its subsidiaries.
Richard Agnew and Anthony Boswell, partners at PricewaterhouseCoopers, have been appointed as receivers.
The board of directors requested Covenant to appoint receivers because of serious concerns as to the state of the debenture market and the ability of Five Star to attract new funds and retain existing investments. After consultation with Five Star’s auditors and advisers, the board of directors reluctantly concluded that Five Star was unable to operate in this market.
A dedicated page on the PricewaterhouseCoopers website is being set up at http://www.pwc.com/nz/fivestarfinance and this will be updated as information comes to hand. In addition, a dedicated phone line (09) 355 8855 has also been established for any investor or creditors who have an enquiry relating to Five Star.
ENDS
University of Auckland: Kids’ Screen Use Linked To Long-Term Deficits In Self-Control And Attention
University of Auckland: Research To Address Equity In STEM For Māori, Pacific And Female Students
Stats NZ: Economic Impacts On New Zealand From Conflict In The Middle East – Report
Advertising Standards Authority: ASA Annual Report 2025 - Platform-Neutral Regulation Keeps Pace With Digital Advertising
Science Media Centre: Lead Pipes Banned For New Plumbing – Expert Reaction
New Zealand Young Physicists Trust: Auckland To Host The ‘World Cup Of Physics’ In 2027; Search Begins For Student-Designed Tournament Logo
