Finance company Marac is to take a $2.5 million hit on an unauthorised business loan which was covered up for several years and was only revealed as the company improved its audit process late last year. Marac's chief investment officer, Craig Stephen, yesterday refused to comment on whether the… More
4:00AM Monday February 08, 2010
While finance company executive Grant Atkinson was away on holiday, his bosses were advertising for a new head… More
4:00AM Thursday February 04, 2010
Yet more bad debt charges - mostly on property loans - mean Allan Hubbard's South Canterbury Finance, which had… More
4:00AM Sunday February 07, 2010
After losing $80,000 in the failed Hanover finance company, an elderly Auckland couple decided to become guinea… More
4:00AM Wednesday February 03, 2010
Receivership or a Hanover-style debt-for-equity swap are looming as the most likely outcomes for struggling Strategic… More
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