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


Receivers to Dominion Finance Group Limited


9 September 2008

Perpetual Trust appoints Receivers to Dominion Finance Group Limited

The trustee for Dominion Finance Group Limited - Perpetual Trust - has appointed receivers to the company.

Perpetual Trust Chief Executive Louise Edwards, said the decision was reached following an extensive review of the company.

"As part of this decision, we considered a wind-down proposal presented by the company. However, in the case of Dominion Finance Group, we consider receivership to be the preferable course of action as opposed to other alternatives such as a company managed wind-down under a moratorium.

"In particular, debenture holders in Dominion Finance Group will benefit from the statutory powers of receivers to ensure their interests are best protected."

Dominion Finance has 6,055 debenture holders with $224 million invested.

Rod Pardington and Barry Jordan of Deloitte have been appointed receivers.

The receivers will prepare and send debenture holders a report on their initial findings as soon as possible.

Further information for debenture holders will be available at or by phoning 09 306 4343.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Statistics: Retail Card Spending Down 0.2 Percent In July
Retail card spending fell $11 million (0.2 percent) between June 2022 and July 2022, when adjusted for seasonal effects, Stats NZ said today... More>>

Barfoot & Thompson: Auckland Rental Prices Inch Up Again, But Upward Trend Could Ease In Coming Months

Data from nearly 16,000 rental properties managed by real estate agency Barfoot & Thompson shows Auckland’s average weekly rent rose by $6.12 (or 1 percent) during the second quarter... More>>

ComCom: Draft Report Says Regulatory System Favours Established Building Products
The Commerce Commission’s draft report into competition in the residential building supplies industry has identified two main factors negatively impacting competition... More>>

Commerce Commission: Draft Determination On News Publishers’ Association’s Collective Bargaining Application
The Commerce Commission (Commission) has reached a preliminary view that it should allow the News Publishers’ Association of New Zealand (NPA) to collectively negotiate with Meta and Google... More>>

Heartland: Retirees Facing Pressure From Higher Cost Of Living And Increasing Debt In Retirement

Heartland has seen a significant increase in Reverse Mortgages being used to repay debt. Among the most affected by the increasing living costs are retirees, many of whom are trying to get by on NZ Super alone... More>>

APEC: Region’s Growth To Slow Amid Uncertainties And Crises
Economic growth in the APEC region is expected to slow this year amid soaring inflation, a protracted war in Ukraine and heightened uncertainties, on top of the continuing impact of the pandemic and virus mutations that are draining resources, according to a new report by the APEC Policy Support Unit... More>>