News

Recovery of collapsed finance company books starts

Wednesday 5th of August 2009

Cynotech, the company headed by former Equiticorp boss Allan Hawkins is starting to recover money from the loan books of collapsed finance companies Western Bay andNational Finance 2000.

The company posted a 2.9% gain in first-half profit as debtors began repayments on impaired loans that had previously been valued at nil.

Net income rose to $1.3 million in the six months ended Ju...

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