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News Archive - June 2006

2 Jun 2006Provincial Finance placed in receivership
Mid-sized finance company Provincial Finance has been put into receivership today.
5 Jun 2006Provincial and Perpetual fail to agree
Provincial Finance’s receivership may be short-lived although the signs aren’t promising.
9 Jun 2006New finance company arrives as others fall
Although two finance companies have recent collapsed and other failures are predicted a new company has been launched.
12 Jun 2006Rescuers put themselves first
The rescue plan being put together by finance companies and advisers for Provincial Finance has fallen through after becoming too expensive. However it appears Provincial debenture holders will get their money back.
13 Jun 2006Officials not interested in rating finance companies
The government’s oversight of finance companies has come under question after the failure of two – Provincial and National 2000 – and talk of more to come.
20 Jun 2006Two lawyers look at Provincial action
The Financial Planners and Insurance Advisers Association is condemning advisers who recommended clients invest a disproportionate amount of their wealth in a single finance company.
20 Jun 2006Deposit rates news briefs
MFS sells 60% of company, Belgrave points out why it is different, ABN Amro cash fund passes $500 million mark.
26 Jun 2006More finance company research coming
Investors and advisers are going to get access to more research following the collapse of two finance companies.
29 Jun 2006Bondwatch notes Nationwide's upgrade
Grosvenor has upgraded Nationwide Finance in its Bondwatch rating service, but has taken the unusual step of making it an incremental change.

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