Genesis seeks buyer for $18M of customer debt

Genesis seeks buyer for $18M of customer debt
Gavin Evans
By Gavin Evans May 7 (BusinessDesk) - Genesis Energy is aiming to sell up to $18.4 million of debt it has been unable to recover from its retail customers. The country’s biggest electricity and gas retailer is seeking quotes from firms interested in buying the debt and recovering it themselves. It wants a “savvy” purchaser to bid for the debt and present their plan for how it will communicate with the company’s former customers and the methodology it will use to recover the funds in a “respectful and lawful” manner. “We do not want...

More Finance

RBNZ signals U-turn on bank capital requirements
Finance

RBNZ signals U-turn on bank capital requirements

A major shift at RBNZ's first public outing since Adrian Orr's sudden departure.

Pattrick Smellie 31 Mar 2025
Grenon seeks to end ‘futile’ NZME board stoush
Finance

Grenon seeks to end ‘futile’ NZME board stoush

It's time for the current board to fold 'em, says coup orchestrator. 

Pattrick Smellie 26 Mar 2025
Wow. It’s all basketball!
Finance

Wow. It’s all basketball!

US investment in basketball is lapping at our shores in more ways than one.

Pattrick Smellie 25 Mar 2025
FMA files criminal charges against David McEwen
Finance

FMA files criminal charges against David McEwen

New Zealand’s financial watchdog has filed criminal charges against former financial adviser David McEwen for allegedly failing to comply with a stop order, which prevented him from contacting potential investors.The Financial Markets Authority (FMA) had made a permanent stop ord...

Staff reporters 18 Mar 2025