NZF Money's $28.3 million loan book is likely to be materially impaired although it isn't possible to accurately forecast how much of the book can be recovered, say receivers Grant Graham and Brendon Gibson of KordaMentha.

Blue Star's managing director Chris Mitchell has resigned, a further blow to the company's bondholders who have been pinning their hopes for the company's return to profit on the strategy Mitchell put in place.

Floating mortgage rates are unlikely to rise this year after Reserve Bank governor Alan Bollard took his cue from deteriorating sentiment about the global economy and kept interest rates on hold today.

Floating mortgage rates are unlikely to rise this year after Reserve Bank governor Alan Bollard took his cue from deteriorating sentiment about the global economy and kept interest rates on hold, as expected.

Telecom is offering a decidedly inferior deal to retail investors holding its $541.7 million in NZX-listed bonds than it is giving institutional investors in its £275 million (NZ$530.2 million) bond issues.

Both the Serious Fraud Office (SFO) and the Financial Markets Authority (FMA) have laid a swag of criminal charges against three people associated with Belgrave Finance which collapsed in May 2008 owing investors about $22 million.

Even as we continue to rush into floating rate mortgages, leading mortgage brokers still see a very prominent place for fixing.

Holders of Telecom's $541.7 million in listed bonds are being offered a one-off “consent fee” of 0.25% to vote in favour of the spin-off of its lines business Chorus into a separate company.

Continuing turmoil in global financial markets is likely to stay Reserve Bank governor Alan Bollard's hand on Thursday but the big question is how long will it keep him on hold.

North South Finance's debenture holders are unlikely to receive any more of their capital back.

Nathans Finance directors Mervyn Doolan and Roger Moses will each serve more than two years in jail and have to pay hefty fines for making misleading statements in prospectuses.

St Laurence's receivers expect to pay secured investors three cents in the dollar in the week of September 6, a delay from the previously advised timing of August.

GFNZ Group, formerly Geneva Finance, says it will repay principal early for the third consecutive time.

Allied Farmers's equity was $6.4 million in the red at June 30 and it made a $43 million annual loss.

The two small New Zealand-owned home lending banks showed divergent trends in the June quarter, one growing its mortgage book while the other shrank.

BNZ grew its mortgage book strongly during the June quarter although non-cash losses reduced its profitability.