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Billion dollar booby but finance company sector fights on, RBNZ finds
Thursday 8th of May 2008
The report, which provides a snapshot of New Zealand's financial sector, says the 13 finance companies in receivership at the time of publication have debentures outstanding of $1.4 billion with a recovery rate expected of between 30-60%."Estimates based on receivers' reports suggest that the direct loss to creditors of the finance companies in receivership ranges between $625 million at the...
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