Top Scoops

Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search

 

Strategic Finance wins approval for moratorium

Strategic Finance wins investor approval for moratorium

Dec. 22 - Strategic Finance won support from investors for a plan to pay back funds over time, allowing for the orderly sale of assets.

Holders of the company’s debenture and notes, along with depositors vote more than 98% in favour of the proposal at a meeting in Wellington today, it said in a statement.

“The moratorium allows Strategic the opportunity to work with borrowers, realising assets on an orderly basis to ensure value is preserved and investor’s funds are repaid if and when funds are available,” according to a statement from chief executive Kerry Finnigan.

Managers and directors of the company, led by Finnigan, were thwarted in their attempt to acquire the company from Australian parent Allco HIT which has called in receivers and managers for the group. Strategic and its immediate owner Strategic Investment Group were excluded from the move.

(Businesswire)

ENDS

© Scoop Media

 
 
 
Top Scoops Headlines

 

Globetrotter: The Geopolitics Behind Spiraling Gas And Electricity Prices In Europe
The current crisis of spiraling gas prices in Europe, coupled with a cold snap in the region, highlights the fact that the transition to green energy in any part of the world is not going to be easy. The high gas prices in Europe also bring to the forefront the complexity involved in transitioning to clean energy sources... More>>

Julian Assange: A Thousand Days In Belmarsh
Julian Assange has now been in the maximum-security facilities of Belmarsh prison for over 1,000 days. On the occasion of his 1,000th day of imprisonment, campaigners, supporters and kindred spirits gathered to show their support, indignation and solidarity at this political detention most foul... More>>

Binoy Kampmark: The Mauling Of Novak Djokovic
Rarely can the treatment of a grand sporting figure by officialdom have caused such consternation. Novak Djokovic, the tennis World Number One, has always had a tendency to get under skin and constitution, creating a large following of admirers and detractors. But his current treatment by Australian authorities, and his subsequent detention as an unlawful arrival despite being granted a visa to participate in the Australian Open, had the hallmarks of oppression and incompetent vulgarity... More>>


Dunne Speaks: Changing The Process Of Goverment By Stealth
In a column some months ago I drew attention to the way the role of the Director-General of Health has changed during the pandemic. I expressed concern that the position has been allowed to expand well beyond the traditional role of the chief executive of the Ministry of Health. I suggested that the Director-General of Health is now the most powerful public servant ever in New Zealand... More>>



Off To The Supreme Court: Assange’s Appeal Continues

With December’s High Court decision to overturn the lower court ruling against the extradition of Julian Assange to the United States, lawyers of the WikiLeaks founder immediately got busy... More>>


Forbidden Parties: Boris Johnson’s Law On Illegal Covid Gatherings

It was meant to be time to reflect. The eager arms of a new pandemic were enfolding a society with asphyxiating, lethal effect. Public health authorities advocated various measures: social distancing, limited contact between family and friends, limited mobility. No grand booze-ups. No large parties. No bonking, except within dispensations of intimacy and various “bubble” arrangements. Certainly, no orgies... More>>