Dorchester Pacific, whose shares have tumbled 96% this year, delayed its annual meeting while it tries to finalize a schedule of deferred repayments to investors.

New Zealand stocks fell, following a rout in stocks across the globe in the wake of the Lehman Brothers bankruptcy and concern about ailing world economic growth.

Strategic Finance, the ailing finance company being acquired by its managers, halted interest and dividend payments as it finalises a capital restructuring plan.

North South Finance, the unit of listed finance company Dominion Finance Holdings, will be spared a receivership for now after its trustee agreed to “an orderly supervised wind down.”

Receivers of finance company Lombard Finance & Investments say debenture holders will get between 19 cents and 40 cents in the dollar, down from the estimate made in May, because of deteriorating credit markets.

Bridgecorp executive directors Rod Petricevic and Robert Roest have been charged under the Securities Act with signing a prospectus that contained untrue statements.

Investment Research Group’s decision to invest in Dorchester Pacific was “a disaster” that resulted in losses of NZ$5.5 million over two years, managing director Brent King said.

A group led by Strategic Finance's managers and directors agreed terms to acquire the business from Allco HIT in a deal valued at about NZ$90 million.

Dominion Finance Holdings, whose shares have lost almost 100% of their value, increased its provision for bad debts to NZ$80 million and will write off NZ$26.6 million of goodwill after failing to win support to recapitalise the business.

Dorchester Pacific, whose shares have tumbled almost 85% this year, said it presented trustees with a plan to defer payments to debenture and note-holders.

Dorchester Pacific, whose shares have tumbled almost 85% this year, will take a one-time charge to write down the value of its quarter stake in finance company St Laurence.

MARAC Finance, the finance company owned by Pyne Gould Corp., said it held its reinvestment rate at 63% last financial year and lifted profit by 5%.

MARAC Finance, the finance company owned by Pyne Gould Corp., said it held its reinvestment rate at 63% last financial year and lifted profit by 5%.

Strategic Finance, whose managers are seeking to buy the ailing company, had a full-year operating loss of about NZ$15.5 million on write-offs and provisions for bad debts.

Allco HIT Ltd. has reached revised, preliminary terms to sell Strategic Investment Group to a group comprising managers, directors and BOS International.

Strategic Finance, whose managers and directors are seeking to buy out the firm, today suspended redemptions of debentures and notes citing dwindling liquidity.