The FMA reveals the full arsenal the market watchdog will use against the six former Hanover Finance directors and promoters, first reported by NBR April 12.

Auckland Super 15 rugby franchise chairman Greg Muir has stood down from the board of the Auckland-based rugby franchise due to “other business matters”.

Intended civil proceedings against the Hanover group of finance companies could be a test case for further compensation action, the Financial Markets Authority says.

Auckland based children's clothing specialist retailers Pumpkin Patch this morning announced a net loss of $26.74 million after accounting for impairments and one-off costs from closing stores in the US.

Net profit after tax including the US stores and non-recurring items was down 13.9% at $14.7 million, but US store closures led to impairments and one-off costs of $39.9 million.

Total one off items after tax were $41.45 million.