Just when one could have thought things were going to settle down in the finance company sector, more bad news raises its head. This time it is with MFS Pacific, thanks to turmoil at its parent company MFS in Australia.
Regards
It's still a little hard to get a handle on what is happening in New Zealand, however Friday's Blog was confirmed very late in the day when the company made an announcement to the NZX.
We have also had some updates from receivers on expected recovery rates which we have summarised here.
The other piece of news we are hearing in the market is that there is quote a few bond issues in the pipeline for the start of the year.
Philip Macalister
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