Five Star Consumer Finance has asked its trustee to appoint receivers to Five Star and its subsidiaries.

News on finance companies was totally mixed bag yesterday with two companies reporting strong results, one receivership and news another firm may have gone under.

South Canterbury Finance says that some finance companies will struggle with liquidity over the next two to four 4 months.

Hanover Finance has confirmed its audited net profit before tax at a record $60.6 million, up 5.8% on the $57.3 million reported for the previous financial year.

Tauranga

The Labour Party has had a rap over the knuckles for an advertisement which suggests, to some, that KiwiSaver is government guaranteed.

Wellington

Napier

Auckland

Depositrates.co.nz News Round Up: Yellow Pages offer halved, Fitch clarifies PFG rating, Instant Finance keeps its B3 rating and S&P drops SAIL rating.

Weekly Rates Update: Investors and savers had plenty of news to digest last week, not least the string of failures or non-failures. Adding to this was a series of rate increases.

The former chairman of Mike Pero Mortgages, Abby Foote, is heading a new business which could be described as the TradeMe version of the home loan world.

Hamilton

Minister speeds up introduction of new adviser rules, Dorchester to sell Equity. Comment: Supporting advisers.

Strategic Finance has reported an audited net profit after tax of $30 million for the year ending June 30. This is an increase of $7.2 million (31.8%) from last year's figure of $22.8 million.

Auckland