
Deal's done - now Hanover investors must wait
Hanover owners Mark Hotchin and Eric Watson copped more stick as investors narrowly voted to approve a share rescue deal.
Hanover owners Mark Hotchin and Eric Watson copped more stick as investors narrowly voted to approve a share rescue deal.
Yesterday's Capital Markets Development Taskforce report made no recommendation for compulsory superannuation.
"The work begins now," says one Allied director after Hanover investors approved the plan to sell the company's loan book to Allied Farmers at today's vote.
A result on whether Hanover investors have approved or rejected the Allied Farmers deal is expected this afternoon.
The New Year could bring a significant rise in the number of Kiwis facing debt stress.
Partial privatisation of state assets is among the recommendations of the final report of Capital Markets Development Taskforce presented today.
House prices across New Zealand rose a slim 0.2 per cent in November, says the Real Estate Institute, but those in Auckland have soared nearly 12 per cent over the past year.
Allied Farmers is down to the wire on its deal to acquire the financial assets for $400 million in stock.
One in three people viewing realestate.co.nz earlier this year searched the words "mortgagee sale", hunting a bargain ripe for plucking.
Cafes and restaurants prove irresistible to smaller investors.
In a rare move, Securities Commission chairwoman Jane Diplock gives her views on the decision facing Hanover Finance debenture holders.