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

 

Receivers Appointed To Capital + Merchant

Receivers Appointed To Capital + Merchant

Tim Downes and Richard Simpson of Grant Thornton, chartered accountants, have today been appointed as receivers of Capital + Merchant Finance Limited and Capital + Merchant Investments Limited by Fortress Credit Corporation (Australia) 11 Pty Limited.

The receivers have been appointed due to breaches in respect of General Security Agreements issued by the companies in favour of Fortress, says Grant Thornton.

The Capital + Merchant companies predominantly lend to the property and property development sector.

According to Grant Thornton, the current state of the debenture market has meant that the ability of the companies to attract new funds and retain existing investments has been significantly constrained, leading to the companies being placed in receivership.

A dedicated page on the Grant Thornton website is being set up at www.grantthornton.co.nz/capitalmerchantfinance and this will be updated as information comes to hand. In addition, a dedicated phone line (09 308 2970) and e-mail address (capitalmerchantfinance@gtak.co.nz) have also been established for any investors or creditors who have an enquiry relating to the companies.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


FMA: Files Civil Proceedings Against Kiwibank For False Or Misleading Representations Over Fee Waivers

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has filed High Court civil proceedings against Kiwibank for making false and/or misleading representations, under the fair dealing provisions of the Financial Markets Conduct Act (FMC Act)... More>>

ALSO:


What Lies Beneath: Is The Housing Market Turning?
Rising interest rates, combined with further tightening of credit availability appear to be dampening the enthusiasm of investors and first home buyers. While house values continue to rise, what lies beneath QV's latest figures is growing evidence that price pressure has shifted... More>>



R&NTU: KiwiRail strike notices withdrawn following new offer

Strike notices on KiwiRail have been withdrawn. Rail and Maritime Transport Union General Secretary Wayne Butson says following negotiations between the RMTU and KiwiRail, a new offer from KiwiRail will be taken back to union members for ratification... More>>


Reserve Bank: Deputy Governor Reflects On Time At RBNZ
Central bankers must continue to look forward to guard against the unpredictable, Deputy Governor Geoff Bascand says in a speech published today. Mr Bascand joined the Reserve Bank of New Zealand – Te Pūtea Matua in 2013 during the aftermath of the Global Financial Crisis... More>>


Xero: Data Reveals ICT Expenditure Key To Small Business Sales Growth
Xero, the global small business platform, today released a new report which shows New Zealand small business ICT expenditure has increased 25 percent compared to pre-pandemic levels - more than the UK (20%) and Australia... More>>


Fonterra: Lifts Forecast Farmgate Milk Price Range And Revises Earnings Guidance At First Quarter Update

Fonterra Co-operative Group today lifted its 2021/22 forecast Farmgate Milk Price range, reported a solid start to the 2022 financial year and revised its earnings guidance... More>>


Canterbury Museum: New Research - Bald Haast's Eagle Feasted On Moa Guts

New Zealand’s extinct Haast’s Eagle (Hieraaetus moorei), the largest known eagle, gulped down viscera like a vulture and may even have been bald, new research suggests... More>>