St Laurence has released an outline of its recapitalisation plan which has two key features: A guarantee from the company and its founder, plus the contribution of capital – albeit in the form of property.

Wellington

Use of trusts increases; Commissioner of Financial Planning job description out; Property values down another 6.8%; New Fallen Angels fund

Auckland

Wellington

Auckland

Wellington

The Investment Savings and Insurance Association is seeking to get the government’s deposit guarantee scheme extended.

Guardian Trust has decided to close and restructure its CashPlus Fund so that it can apply for the government’s deposit guarantee scheme.

Professional Investment Services has appointed two new senior staff members. Colleen Dennehy, has been appointed Business Development Manager for the Northern Region.

Nationwide

Auckland

IDeas

ASB Bank has become the first of the big retail banks to be approved under the government’s retail deposit guarantee firm.

The directors of NZX-listed company VTL Group, which was related to Nathans Finance, have resigned and plan to call in the receivers.

Fidelity Life has reported a record profit of $15.5 million for the year ended 30 June 2008, an increase of 20% over last year’s result of $12.9 million.