Subscribe today - find out more
Why you should consider BusinessDesk
Opinion

Bridgecorp’s death knell a timely warning

Paul McBeth
Fri, 17 Sep 2021

Bridgecorp principal Rod Petricevic's fall from grace is a cautionary tale for investors. (Image: Getty)
Paul McBeth
Fri, 17 Sep 2021
If you weren’t reading the corporate obituaries last week you might have missed that Bridgecorp, the poster child for the hubris of the early 2000s financiers, was finally struck off the companies register.Bridgecorp was one of the country’s biggest finance companies when it went belly up in 2007, owing almost 14,400 investors about $459 million. It also had a book value on its loans and property assets of $595.3m, something of an illusory total as we were to discover about many of the mezzanine lenders.Like all the rest, Bridgecorp...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Coronavirus
400 trainee pilots allowed into NZ
Brent Melville | Sat, 23 Oct 2021

Pilot trainees will make up 40% of the latest cohort of international students allowed in from mid-2022, with an assumption that tight border rules will still be in place.

Technology FREE
Review: NuraTrue, the earbuds that listen to you
Henry Burrell | Sat, 23 Oct 2021

Personalised audio at a relatively affordable price point. It's a winning combination.

On the Money
On the Money: IRD's rich list, Damian O'Connor's FTA in MIQ, and more
Rebecca Stevenson | Sat, 23 Oct 2021

OTM this week: what does Inland Revenue consider rich, why was Damian O'Connor absent from the FTA celebrations, which new car is triggering FOMO amongst the Remuera Tractor set, and more.

Sponsored
Decarbonising infrastructure – navigating an abundance of policy and analysis

We have a rare opportunity to align significant public infrastructure investment with urgent climate change reform, but time is short and we all need to act.

Sponsored
Let's not lose sight of the wood for the trees

As much generation will need to be built in the next 14 years as has been built in the last 40+ years for Aotearoa to meet its commitment of achieving net zero emissions by 2050.