The Financial Markets Authority (FMA) has forced NZF Group to withdraw subsidiary NZF Money's prospectus although NZF has tried to obfuscate this was the reason for the withdrawal.

The withdrawal decision was taken "following the receipt of advice from one of (NZF Money's) borrowers that the purchaser with whom an unconditional contract of $3.5 million had been signed, and was due for imminent settlement, would not be able to settle on time and instead wished to renegotiate the terms of the existing unconditional contract that was in place," NZF told the stock exchange.

Z Energy, formerly Greenstone Energy Finance, is mulling yet another bond issue after its latest offering and its provision for over-subscriptions was fully met leaving unsatisfied demand.

Bridgecorp's long-suffering investors are to get their first payout since the company collapsed in July 2007 but will receive between just three and 3.5 cents in the dollar next month.

Blue Star Group's bondholders are being offered a nasty choice between the near certainty of losing all their money or holding on to a slim chance of being repaid a small part of it in three year's time.

NZF Group lost more than half its original $1.7 million investment in consumer lending specialist Finance Direct at the end of March.

The interests of PGG Wrightson Finance's (PWF) debt security holders not covered by the government's retail deposit guarantee scheme are likely to be enhanced by their holdings being switched to Heartland Building Society, says independent expert Northington Partners.

The sale of South Canterbury Finance's (SCF) Helicopters New Zealand(HNZ's) to Canadian Helicopters has been settled for $154 million, $6 million less than announced in April.

Heartland Building Society's deposit reinvestment rate is climbing but it wants to bed down its purchase of PGG Wrightson Finance before making any decisions on withdrawing from the government's retail deposit guarantee scheme.

Australia's Pepper Home Loans will be looking at opportunities in the New Zealand market once it completes the purchase of GE Capital's A$5 billion (NZ$6.47 billion) mortgage book which includes about A$800 million of New Zealand mortgages.

National Australia Bank is putting pressure on the EPIC infrastructure investment fund to pay down debt and this time Pyne Gould is coming to the rescue.

SBS Bank's March quarter profit nearly halved because of provisions against unquantifiable potential losses from the Christchurch earthquake while its mortgage book shrank slightly.

Geneva Finance, has gained a formal waiver of its banking covenant breach and has increased its reported annual net loss to $8.6 million after deciding to write off its $2.4 million deferred tax asset.

Economist Rodney Dicken's theory that the Reserve Bank should aim to maintain its official cash rate (OCR) at a neutral level through the business cycle isn't finding any support from other economists.

Fisher & Paykel Finance has decided to do without the government guarantee of its retail debentures more than six months before it has to.

Yet another company in the St Laurence group, St Laurence Property Development Fund, is about to collapse with Perpetual Trust warning it will seek to appoint liquidators on June 30.