News

NZF Group: receivers won't let it pay interest on capital notes

Monday 21st of May 2012

NZF's assets have been frozen by the High Court pending a substantive hearing on the NZF Money receivers' claims the directors of both companies, who were the same people, grossly undersold an NZF Money subsidiary to the parent company in October 2010.

No date has been set for the substantive hearing.

NZF is alllowed to make payments "in the ordinary course of business," provided...

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