NZF Money to be put into receivership
Board asks trustee to appoint receiver.
NZF Group's subsidiary NZF Money has asked its trustee to appoint a receiver, only a day after the FMA forced it to pull its prospectus.
NZF (NZX:NZF) said NZF Money explored various options for a short-term funding solution.
“After giving the matter considerable thought and taking into consideration developments over the last couple of days, the Board of NZFML do not believe that such a short-term solution is in the best interests of NZFML or its investors.
“Accordingly, the Board of NZFML have requested NZFML’s Trustee, Covenant Trustee Company Limited, to appoint a receiver. Further announcements will be made in due course.”
NBR staff
Fri, 22 Jul 2011
Fri, 22 Jul 2011
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NZF Money to be put into receivership
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