News

Capital + Merchant unlucky 13th as liquidity freezes

Thursday 29th of November 2007
The receivers, Grant Thornton, said in a statement yesterday the Australian subsidiary of Fortress Credit Corporation II had requested the action after Merchant + Capital had breached agreements in regard to prior charge over assets.

According to the just-released McDouall Stuart 'New Zealand Finance Companies Report, Capital + Merchant had issued a prior charge of $14.3 million on a credit...

Want to read the full article?
Click the button below to subscribe and will have unlimited access to full article and all other articles on the site.