Strategic Finance will miss its first repayment to stockholders after bank debt took precedence over mum and dad investors, and will likely face a review of its moratorium.

Failed finance company Bridgecorp receivers have all but given up hope of clawing back any money for investors from the ill-fated Momi resort development in Fiji.

Strategic Finance Ltd, the finance company which owes about 15,000 investors some $325 million, will miss its first repayment to stockholders after bank debt took precedence over mum and dad investors, and will likely face a review of its moratorium.

For those hoping for a quiet 2010 following the dramas of the last few years, we must unfortunately confess to not having much good news for them. 

South Canterbury Finance has appointed Sandy Maier as its new chief executive.

Four lenders made home loan rate changes this week in the lead up to Christmas, all increasing their one-year rates by between five and 26 basis points.

Meridian Energy is pushing ahead with its first issue of retail bonds and will shortly resume its Renewable Energy Bonds programme once documentation is revised to reflect the impacts of electricity industry reforms announced earlier this month by Energy Minister Gerry Brownlee.

The Institute of Financial Advisers has hit out at that Code Committee’s discussion paper on Ethical Behaviour and Client Care saying parts of it are unhelpful and banning commissions won't work.

Dorchester gives debenture holders a Christmas present; Hawk announces takeover plan for Cynotech Holdings; Deposit takers keep switching rates after mid-week flurry.