Trading in Dominion Finance Holdings (DFH) shares has been suspended indefinitely.
The company's main finance company subsidiary Dominion Finance Group was placed in receivership by Perpetual Trust last month, owing 6055 debenture holders $224 million.
Last week DFH said it had decided to appoint a voluntary administrator to
the company as soon as possible.
With Dominion Finance Group in receivership, and the company's other main subsidiary North South Finance working on a moratorium proposal, neither was in a position to provide funding to DFH, the company said.
Today, as well as the announcement of the trading suspension, DFH said John Cregten and Andrew McKay of Corporate Finance had been appointed as administrators.
DFH shares last traded at 1c on October 8, down from $1.57 a year earlier.
- NZPA
