Interim order freezes NZF Group's assets
Receivers of failed lender NZF Money successful in temporarily freezing NZF Group's assets.
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An interim court order has frozen the assets of failed lender NZF Money's parent company.
In an announcement to the NZX today, NZF Group chief executive Mark Thornton says the order stops the company from dealing with or disposing of any assets "except for very limited purposes".
That follows action taken by the receivers of NZF Money, Grant Graham and Brendon Gibson of KordaMentha.
A hearing to reconsider the orders will be held on April 27.
"The company will seek to have the freezing orders lifted at the substantive hearing," Mr Thornton says.
Last month, the Serious Fraud Office opened an investigation into a range of transactions between members of NZF, its directors and officers from July 2006 to the present.
NZF Group says it has no knowledge of related party transactions at the heart of the SFO investigation.
David Williams
Tue, 10 Apr 2012
Tue, 10 Apr 2012
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Interim order freezes NZF Group's assets
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