Resimac unlikely to be affected by NZF Group's woes
Resimac acted yesterday in what appears to be an attempt to protect its brand by renaming the subsidairy Resimac Financial Securities, Companies Office records show.
Resimac's New Zealand general manager Dugald Morrison says his company has no other association with NZF Group other than last year's purchase and he can't comment on developments within NZF Group.
"We are happy with the progress we've made with respect to our acquisition and will provide further information on this aspect when we have dates and further details locked in," Morrison says.
The receivers of NZF's former subsidiary, NZF Money, Grant Graham and Brendon Gibson of KordaMentha, have started legal action against a number of NZF Group directors over "an internal restructuring" of NZF Homeloans October 2010 which they allege was "an insolvent transaction," according to NZF Group.
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