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Jenny Ruth
Jenny Ruth
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NZF Money's investors likely to receive 25c to 42c in the dollar

Tuesday 20th of March 2012

Receivers Grant Graham and Brendon Gibson of KordaMentha say in their second report on the company they believe "it is extremely unlikely there will be a return to unsecured creditors."

The receivers say they have collected about $3.4 million in loan repayments and from selling a subordinated note and still have 20 loans with a face value of $27 million to collect.

"It is apparent...

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Latest Comments
Fidelity Life sold to Partners
Good leaders are a rare commodity these days. Milton built a great business but when he left, a succession of bankers took over who we know are ignorant about insurance. We saw AMP buy AXA with bankers running AMP. What resulted was two 100 year old businesses being destroyed have bankers at the helm. We can hope that the boards of the few remaining insurers note that appointing a person with a banking background to the leadership role is a destructive appointment.
19 hours ago Quality Advice
Fidelity Life sold to Partners
A shame to see Fidelity Life ceasing to be NZ owned, and for there to be no NZ owned Insurers left. It's sad to see what has happened to the company since Milton Jennings was in charge. You get the feeling if more of his type of leadership was continued that Fidelity might have continued to grow rather than the slow decline that has happened since Milton's tenure.
22 hours ago Just an opinion
Who is responsible for notifying policy changes?
Of course it is the responsibility of the insurer to clearly communicate with its Policy holders, and Advisers together, regarding all changes on a Policy. There is at least one insurer that feels that a simple email to the Advisor on every Anniversary renewal is a bit too much for them! The Advisor has to be pro-active and chase renewal communications every year through the Insurer's website. Where is the responsibility of the insurer there?
1 day ago Porus Kateli
Fidelity Life sold to Partners
Can the New Zealand Life Insurance afford further shrinkage? With AIA performing so poorly options to insure will fall to just Partners, Asteron ( Acenda) and Chubb for mainstream Life Insurers. Of course there is PSP but they have a very small, targeted client group.
1 day ago Quality Advice
AIA moves into wealth with annuity launch planned
This is great news indeed, well done AIA. I hope you were able to solve the tax treatment which plagued this cornerstone product.
3 days ago Goldcard