Debts of Peacocks daycare-related entities pile up

Debts of Peacocks daycare-related entities pile up
A trust company with links to recently sold daycare centres owes in excess of $13 million. (Image: NZME)
Gregor Thompson
A trust company with links to recently sold Peacocks daycare centres owes a combined nearly $13 million to creditors.Kristal Pihama and Leon Francis Bowker of KPMG were appointed liquidators of V & S Trustee Company on July 31, following an application of the Inland Revenue Department (IRD).That company, incorporated as trustee of the Malvern and Mahunga Trusts, is jointly owned by Vandana Bhatia and Sanjeev Gupta, who also own childcare centre companies Peacocks and Peacocks NZ, which were placed into receivership in June. According t...

More Economy

RBNZ might intervene over basic bank accounts
Finance

RBNZ might intervene over basic bank accounts

Intervention is possible if the basic bank account introduction is unsatisfactory.

NZ dollar hits 3-year low against Aussie as rate gap widens
Economy

NZ dollar hits 3-year low against Aussie as rate gap widens

NZ-Australian 2-year swap differential at 12-year low.

Rebecca Howard 26 Sep 2025
Billions up for grabs as term deposits expected to peak
Economy Data points

Billions up for grabs as term deposits expected to peak

Household term deposits have grown by over $60 billion in three years.

Gregor Thompson 25 Sep 2025
Treasury boss reiterates warning of surging fiscal pressures
Finance

Treasury boss reiterates warning of surging fiscal pressures

Fiscal pressures in focus as ageing population drives retirement, health costs up.

Staff reporters 24 Sep 2025