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Fugitive tycoon; Westpac’s missing millions – the NZ connection

Denise McNabb
Tue, 20 Jul 2021

Westpac got caught up on both sides of the Tasman (Image: Deposit Photos)
Denise McNabb
Tue, 20 Jul 2021
A gaping A$295 million hole on Westpac’s ledger is shaping up to be the biggest bank heist in Australia and New Zealand’s banking history. The exposure could rise to A$400m as two other banks and a fintech company tally their losses.Justice Michael Lee told the Federal Court of Australia in Sydney earlier this month that the bank made a “sobering discovery” when it learned its high-profile Sydney business tycoon customer, Bill Papas’s Forum Finance Pty Ltd, had allegedly siphoned A$225 million (before tax) from Wes...

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Law & Regulation
David Henry firm moves into liquidation owing $400k
Brent Melville | Sat, 31 Jul 2021

Kinleith Land and Infrastructure moves into liquidation owing at least $400,000, liquidator looks to sell solar farm.

On the Money
On the Money: Chris Dunphy, Peter Wells' potential $250m payday, Banksy, Bridges, and more
Rebecca Stevenson | Sat, 31 Jul 2021

Which minister thought he was at a rave, who's cashing in on another potential IPO on the ASX, why wasn't anyone buying Banksy? And more.

Opinion FREE
Why it's hard to open a supermarket in NZ
Eric Crampton | Fri, 30 Jul 2021

Supermarkets' high profits should motivate a new competitor, if they're real. If the profits are there, what's stopping them?

How events can support a sustainable future

Sustainability has become a fundamental characteristic of a responsible business. It’s no longer just about “doing the right thing for the environment”, but now a much more holistic proposition where businesses have a real responsibility to embrace sustainable business practices - or risk being left behind.

5 trends as construction begins towards carbon neutrality

Carbon neutral trends emerging in engineering, procurement and construction across the globe indicate what we can expect in New Zealand over the next thirty years.