
Boston goes into receivership
Boston Finance has been put into receivership less than a week after it was supposed to have repaid all of the money it owed to investors.
Boston Finance has been put into receivership less than a week after it was supposed to have repaid all of the money it owed to investors.
Hanover investors will have to make a decision whether to approve the company's proposed debt-for-equity swap with Allied Farmers.
Finance company Boston Finance, one of the many currently in a moratorium, has finally been put into receivership.
Treasury has tweaked the retail deposit scheme to help companies wean themselves off Crown support.
Allied Farmers has signed an agreement with Hanover Finance and its subsidiary United Finance worth approximately $400 million.
Hanover Finance says some of its property investments are showing signs of life.
Hanover investors' $500 million is tied up in a vast spread of partly built luxury housing estates and resorts - one still a hole in the ground.